President Museveni Urges Global Cooperation for Equitable Development

President Yoweri Museveni emphasized the need for global cooperation in promoting equitable development and fair trade relations, particularly between Western nations and developing countries in Africa. During a farewell meeting with outgoing French Ambassador Xavier Sticker, he stressed the importance of correcting imbalances in global development that pose risks to the West. The president called for mutual trade in value-added products and encouraged Western nations to support Ugandan industries by importing finished goods.

Key Takeaways:

President Museveni emphasized the importance of global cooperation to promote equitable development and fair trade relations, particularly between Western nations and developing countries in Africa.
He urged Western nations to work more closely with developing countries to correct imbalances in global development that pose long-term risks to the West.
The president called for mutual trade in value-added products, citing the need for developed countries to import finished goods such as Ugandan textiles and processed dairy products.
He noted that Uganda buys machinery and industrial raw materials from the West and called for reciprocal support of Ugandan industries through the purchase of finished goods.
President Museveni praised the strong bilateral ties between Uganda and France, highlighting the significant investments by TotalEnergies in the Lake Albert oil fields as an example of fruitful cooperation.
Ambassador Sticker commended President Museveni's support for the coffee industry and encouraged the expansion of French businesses in Uganda, particularly through the establishment of factories to boost local manufacturing and economic development.

Statistics:

The Lake Albert oil fields have seen significant investments by TotalEnergies, in partnership with CNOOC Limited.
Uganda's coffee industry plays a vital role in the country's revenue generation.
The country's reliance on importing machinery and industrial raw materials from the West highlights the need for mutual trade in value-added products.
TotalEnergies' investment in the Lake Albert oil fields is a testament to productive cooperation between Uganda and France.

Sources:

The meeting with outgoing French Ambassador Xavier Sticker was held at State House Entebbe.