By Our Reporter
The minister of Trade, Industry and Cooperatives ,Amelia Kyambadde has said that the Common Market for East and Southern Africa (COMESA) has already allocated 5 million Euros and it is set to be approved by COMESA council of ministers for the construction of border markets.
Minister Amelia revealed this while interfacing with legislators sitting on parliamentary committee on tourism, trade and industries.
The MPs tasked the minister to clarify to the committee whether these funds were paid to the ministry and which border market has been invested in ever since Uganda joined COMESA free trade area.
The chairperson of the committee Flavia Kabahenda said that it was expected that Uganda will get some funds in compensation to trade from COMESA which the ministry anticipated to use for the construction of border markets.
The minister (Amelia) noted that, the ministry of trade will embark on the construction of the border markets starting with the Bibia border market which borders Sudan, Uganda immediately if COMESA council of ministers approves the 5M Euros which was budgeted by COMESA.
“The ministry has a draft financing agreement awaiting signature by government of Uganda, the European Union and COMESA secretariat” she confirmed.