The World Trade Organisation deal ended in Hong Kong on Sunday with an aim to pave way for Africa’s entry into the global market.
“It is the first time Western countries agreed to eliminate subsidies and conceded to their distorting effects on the market,” Daudi Migereko minister of trade, tourism and industry said during an interview at the conclusion of the sixth ministerial World Trade Organization (WTO) meeting.
“As Uganda, duty-free access to Western markets is critical on a predictable basis. Once investors are certain of our markets, they will invest in our country,” Migereko said.
Some G7 countries donated to a fund, to help developing countries improve supply constraints, like Japan had offered $10.2b (sh18.4 trillion) while the US offered $2.7b (sh4.8 trillion).
He said that Africa is on the road to efficiently eradicating poverty, through the guaranty of markets for goods or addressing the supply constraints.
By Kisibo Jackie
Uganda news
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