Uganda is seeking to strengthen economic ties with the Central African Republic (CAR), as President Yoweri Museveni hosts his CAR counterpart, Faustin-Archange Touadéra, during the country’s 62nd Independence Day celebrations.
In a speech marking the occasion, President Museveni emphasized the importance of regional cooperation and trade. “The Central African Republic will become a good trade partner for East Africa,” he said.
Mr. Museveni invited Uganda Airlines and air cargo companies to explore flight options to Bangui, CAR’s capital, to facilitate trade between the two nations.
The move is part of Uganda’s efforts to diversify its economy and increase trade within the African continent. Uganda’s economy is estimated to reach $57.5 billion by June 2025.
President Touadéra praised President Museveni’s leadership in transforming Uganda, saying, “He has indeed transformed Uganda into a good country of national reconciliation. We came here because he is a person who inspires us a lot.”
Uganda has made significant progress in recent years, with the country successfully entering the knowledge economy, producing automobiles, vaccines, and pharmaceuticals.
However, experts say that Uganda’s economic growth is heavily reliant on foreign investment and regional trade. The country’s private sector is still struggling to compete with foreign companies.
Analysts believe that strengthening ties with CAR could provide new opportunities for Ugandan businesses and help reduce reliance on traditional trade partners.
“The Central African Republic offers a vast market for Ugandan goods and services,” said regional Integration expert Counsel Phiona Rwandarugali. “But Uganda must address its infrastructure challenges to fully capitalize on this opportunity.”
Uganda’s government has pledged to invest in railways and other vital infrastructure to lower transport costs and attract businesses.
As Uganda and CAR forge closer ties, regional observers are watching closely to see how this partnership will shape the economic landscape of East Africa.
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