Museveni Warns EU Against Political Interference in Business Relations at Uganda-EU Business Forum

President Yoweri Kaguta Museveni has delivered a poignant message to European Union (EU) leaders at the 3rd Uganda-European Union Business Forum 2024, cautioning against attempts to exert political control on a global scale. Speaking at the forum themed “Boosting Trade and Investment” at Speke Resort Munyonyo, President Museveni emphasized the necessity for European governments to disentangle politics from business affairs.

“The non-trade barrier created by wrong politics where people mix politics with business, you need to advise governments in Europe to get out of that mistake because there is no way you can control the world politically,” President Museveni advised, urging a separation of political interests from business endeavors.

Highlighting the essence of profitability in business ventures, President Museveni elucidated the fundamental elements necessary for success in commerce. “A business is an enterprise that makes profits, and the higher the profits, the better,” he remarked. He underscored the significance of production, consumer demand, and infrastructure in facilitating profitable business operations.

Moreover, President Museveni called for a robust dialogue between the European Union and Africa to foster mutually beneficial business opportunities. He cautioned against the historical trend of exploitation and unequal distribution of labor, particularly in the extraction and processing of raw materials. Drawing attention to the coffee industry, President Museveni illustrated how value is disproportionately captured, with African countries receiving only a fraction of the final product’s value.

Addressing the imperative of global affluence, President Museveni referenced China’s economic transformation as a model for driving business prosperity worldwide. “Global affluence will give good business to everybody in the world,” he affirmed, emphasizing the interdependence of economic advancement and commercial success.

In welcoming European investment in Uganda, President Museveni stressed the strategic importance of such partnerships for mutual benefit. H.E Jan Sadek, the Ambassador of the European Union to Uganda, echoed President Museveni’s sentiments, noting the abundant trade opportunities between Uganda and European companies.

Hon. John Mulimba, the Minister of State for Foreign Affairs, emphasized the importance of quality assurance in fostering dialogue between Ugandan agribusinesses and European counterparts. Hon. Evelyn Anite, the Minister of State for Investment and Privatization, expressed gratitude to President Museveni for his guidance and reiterated Uganda’s readiness to embrace favorable investment opportunities.

During the forum, several agreements were signed to bolster investment prospects between Uganda and European companies. These initiatives encompass diverse sectors such as youth employment, human rights protection, agricultural revitalization, and women entrepreneurship. Projects like the Green and Decent Jobs for Youth aim to enhance employability and promote environmentally sustainable employment, while others focus on advancing respect for business and human rights and facilitating access to finance for small and medium-sized enterprises (SMEs).

The forum culminated in a tangible commitment to strengthening economic ties and fostering inclusive growth between Uganda and the European Union, signaling a promising trajectory for bilateral cooperation and sustainable development.

As global dynamics continue to evolve, President Museveni’s admonition serves as a poignant reminder of the imperative to uphold the principles of fair trade and economic empowerment, free from political constraints. In embracing a collaborative approach, nations stand to reap the rewards of a truly interconnected and prosperous world economy.