The UK has doubled its export credit for Uganda from £300mn to £600mn, as it embarks on a mission to restore trade relations with former colonies in the face of Brexit and its departure from the European Union.
In a recent visit to Uganda, UK trade envoy, Dolar Popat, said the facilities will support Ugandan infrastructure projects by offering long-term finance from the UK government for UK expertise, goods and services.
Uganda’s primary exports are agricultural products including edible vegetables, coffee, tea and flowers.
In March, commonwealth trade ministers agreed to deepen economic ties and trade integration with former colonies by harmonising regulations to a “transparent free and fair multilateral trading system”.
“This will support the target of increasing intra-Commonwealth trade to US$1tn by 2020,” says the Commonwealth Enterprise and Investment Council.
source: gtreview.com
