Uganda:
China Waives Tax On Uganda Goods
Kampala — Business people exporting goods to China, will this year benefit from a waiver of customs duty and tariffs.
The Chinese Ambassador to Uganda ,Zhao Yali, disclosed this during a Media reception at the Chinese Embassy in Kampala last week.
Zhao said, "From this year, 95% of Uganda's goods exported to China can enter the Chinese market with no customs duty and tariff."
He added, "Our economic cooperation has over the years developed smoothly and in 2012, bilateral trade (between Uganda and China) increased to $538 million, an increase of 34.6% from 2011."
He was also quick to point out that last year alone, 45 Chinese enterprises registered in Uganda with planned investments amounting to $86 million.
China has in recent years surged forward as one of Uganda's biggest trading partners with the Uganda Investment Authority (UIA) estimating that between 1993 and 2012, 310 Chinese enterprises were registered in Uganda with planned investments of $683 million and creating 33,000 job opportunities for locals in the process.
According to statistics from the Chinese Embassy, China issued 10,000 visas to Ugandans, China also offered 40 government scholarships and 404 slots for training courses for Ugandan government officials.
Last year, the China National Offshore Oil Company (CNOOC) signed a farm down agreement with Tullow Oil for the exploration of oil in the country.
China's Export and Import Bank during the year also agreed to provide $350m buyer's credit for the construction of the Kampala-Entebbe Express Highway.
The China Road and Bridge Construction Company is also undertaking various projects in the country including the construction of the first ever tarmac road in the Karamoja region in North Eastern Uganda.
The Ambassador also revealed that China is committing $20 billion of credit to Africa on transnational and trans-regional infrastructure development in areas like agriculture and manufacturing as well as the energy sectors.
BY EMMA ONYANGO
Source: AllAfrica.Com
Kampala — Business people exporting goods to China, will this year benefit from a waiver of customs duty and tariffs.
The Chinese Ambassador to Uganda ,Zhao Yali, disclosed this during a Media reception at the Chinese Embassy in Kampala last week.
Zhao said, "From this year, 95% of Uganda's goods exported to China can enter the Chinese market with no customs duty and tariff."
He added, "Our economic cooperation has over the years developed smoothly and in 2012, bilateral trade (between Uganda and China) increased to $538 million, an increase of 34.6% from 2011."
He was also quick to point out that last year alone, 45 Chinese enterprises registered in Uganda with planned investments amounting to $86 million.
China has in recent years surged forward as one of Uganda's biggest trading partners with the Uganda Investment Authority (UIA) estimating that between 1993 and 2012, 310 Chinese enterprises were registered in Uganda with planned investments of $683 million and creating 33,000 job opportunities for locals in the process.
According to statistics from the Chinese Embassy, China issued 10,000 visas to Ugandans, China also offered 40 government scholarships and 404 slots for training courses for Ugandan government officials.
Last year, the China National Offshore Oil Company (CNOOC) signed a farm down agreement with Tullow Oil for the exploration of oil in the country.
China's Export and Import Bank during the year also agreed to provide $350m buyer's credit for the construction of the Kampala-Entebbe Express Highway.
The China Road and Bridge Construction Company is also undertaking various projects in the country including the construction of the first ever tarmac road in the Karamoja region in North Eastern Uganda.
The Ambassador also revealed that China is committing $20 billion of credit to Africa on transnational and trans-regional infrastructure development in areas like agriculture and manufacturing as well as the energy sectors.
BY EMMA ONYANGO
Source: AllAfrica.Com
