President Yoweri Museveni, also Chairman of the Non-Aligned Movement (NAM), concluded the weeklong NAM summit in Kampala on Saturday with a bold statement criticizing Japanese trading practices. During his speech, Museveni expressed discontent with Japanese investors and Western companies, accusing them of neglecting the principle of aggregate demand and opting for mere assembly instead of manufacturing in Uganda.
Since 1962, Uganda has been a significant buyer of Japanese vehicles. However, Museveni voiced his dissatisfaction, stating, “Japanese are not wise traders.” He urged Japanese investors to shift from vehicle assembly to manufacturing within Uganda, emphasizing that the country has enriched Japan with its purchases for decades.
In response to Japanese proposals to assemble vehicles in Uganda, Museveni declared, “I’m no longer interested in assembling but I only want manufacturing, if you don’t want, bye-bye.” This stern warning comes at a time when Uganda has shown recent progress in producing fully electric auto motors.
Despite the historical friendly relationship between Uganda and Japan, Museveni made it clear that his focus is on promoting manufacturing within the country. Uganda currently has just under 3 million vehicles, with the majority being foreign-manufactured.
During the summit, Museveni called on the 121 participating countries to leverage their combined population of approximately 6 billion for a more extensive product market. He emphasized the importance of promoting trade among NAM countries, asserting that mutual support in buying from each other would lead to shared prosperity.
Underlining the theme of the summit, Museveni urged NAM countries to deepen cooperation for global affluence. He expressed confidence that, despite challenges, the NAM nations could explore new ways of affordable funding to enhance their collective strength.
