During the opening ceremony, the chief guest, in her speech, cited the challenge of barriers in the East African Common Market Protocol which had made it difficult for regional traders especially from Uganda, to benefit from the single market envisioned by the Common Market Protocol. This, she revealed, in response to UMA’s presentation of key issues hindering free trade across the region and internationally.

While delivering his remarks, Mr. Deo Kayemba the Chairman of Uganda Manufacturers Association had highlighted lack of guarantee for their export products in cases of any uncertainty in transit to especially volatile markets.

He also cited that the mode of exchange affects manufacturers who export products on the regional and international market saying that multiple conversion of currency deprive its value there by losing on returns.

In her response, Hon. Kadaga indicated that part of the mitigating measures envisioned by the East African Community included accelerating the process of instituting a common currency to ease transactions amongst traders in the region noting that this would solve the challenge of instability in currency conversion rates that had served to deter effective trade among the partner states. 

The Minister of Trade Industry and Cooperatives, Hon. Francis Mwebesa assured manufacturers of his ministry’s commitment to driving the industrialisation agenda. He further committed to continue supporting the resolution of key manufacturing sector challenges urging manufacturers to make use of the Ministry in this regard. The minister challenged the UMA and her members to play an active role in defining the direction of industrial policy in the country in order to ensure that the policies developed were able to stimulate growth and further investment.

In a show of the advances made in local manufacturing, the Chief Guest was able to flag off a consignment of drugs, manufactured in Uganda by Abacus Parenteral Drugs Ltd, destined for Malawi.