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Magufuli And Museveni Meet For Trade Talks

Business

Magufuli And Museveni Meet For Trade Talks

For the whole day, President Yoweri Museveni of Uganda and Tanzania’s Pombe Magufuli will engage in detailed trade talks with the aim of shaping business prospects between their countries.

Museveni flew to Dar es Salaam this morning where he was received by his Tanzanian counterpart.

According to Museveni’s aides, “The two leaders are expected to discuss various issues affecting trade relations between the countries & the region. They are also expected to discuss the 2nd Joint Permanent Commission (JPC) that will be held in Kampala.”

The Joint Permanent Commission (JPC) is expected to review the implementation of decisions agreed upon in various sectors including the East African Crude Oil Pipeline and proposed gas pipeline from Tanzania to Uganda.

In the growing trade relations between the two countries, Tanzania announced on Monday that it wants to build a pipeline to pump natural gas to neighbouring Uganda.

State-run Tanzania Petroleum Development Corporation (TPDC) said it was looking to hire a contractor to conduct a feasibility study to determine current and future natural gas demand “by identifying all potential customers”. It did not give an estimated volume.

Natural gas reserves in Tanzania are estimated to over 57 trillion cubic feet (tcf), mostly in offshore fields in the south of the country.

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