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UGANDA AND TURKEY JOINT STATEMENT ON THE : INVESTMENT, INDUSTRY AND TOURISM SUMMIT 12th-13th MAY 2022 at SPEKE RESORT MUNYONYO

UGANDA AND TURKEY JOINT STATEMENT ON THE : INVESTMENT, INDUSTRY AND TOURISM SUMMIT 12th-13th MAY 2022 at SPEKE RESORT MUNYONYO

UGANDA AND TURKEY JOINT STATEMENT ON THE : INVESTMENT, INDUSTRY AND TOURISM SUMMIT 12th-13th MAY 2022 at SPEKE RESORT MUNYONYO

/ SOCIETE / Sunday, 22 May 2022 12:25

source photo: Uganda Investment Authority

HIS EXCELLENCY PRESIDENT YOWERI KAGUTA MUSEVENI WAS THE CHIEF GUEST AT THE UGANDA AND TURKEY JOINT STATEMENT INVESTMENT TRADE INDUSTRY AND TOURISM SUMMIT THAT TOOK PLACE ON 12TH - 13TH MAY 2022 AT SPEKE RESORT MUNYONYO

 By Gloriose Ntirenganya

The investment, industry, and tourism summit 2022 between Uganda and Turkey was attended by the Ministry of Finance, Planning and Economic Development Uganda Investment Authority, The Embassy of Turkey and Foreign Economic Relations Board of Turkey, and the Uganda Turkey Investment Trade Industry and Tourism and lastly the 600 investors selected carefully. 

 

The Uganda and Turkey trade relations started in 1969 when Turkey opened a fully-fledged mission in Kampala in 2010 and Uganda opened a mission in Ankara in 2011. Both countries are members of the Organisation of Islamic Conference (OIC) and have implemented several joint projects in education, agriculture value addition, environment, infrastructural development, ICT, and construction spheres through the Turkish cooperation and coordination agency (Tika) as a result of these and others efforts, the trade volume between both countries increased to US$ 71 million in 2021, up from US$ 63 Million in 2020. In 2021 alone Turkish exports to Uganda increased by 26% and Uganda’s exports to Turkey increased by US$ 418. As the result of continua’s marketing initiatives and exposition organised in 2019, the trade and investment figures between the two countries registered steady growth to over US$ 71, even during the pandemic

 

As the theme of this year says that the summit will be accelerating investment, trade industry, and tourism between Uganda and Turkey in the past COVID 19 era, the Uganda investment authority is therefore keen to attract more Turkish companies and businesses to invest in different areas of the economy beyond their existing field of operation namely, education, infrastructure development, and medicine. Turkey is happy to offer a ready market for many Ugandan products including coffee, tea, handicrafts, and processed fruits among others.

 

The Uganda and Turkey Investment, Trade, Industry, and Tourism Summit 2022 was aimed at identifying, engaging, and attracting new investment leads from Turkey and promoting Uganda as a preferred investment destination in Africa, as well as facilitating engagements between potential investors and Ugandan business people.

 

The Summit included the following objectives 

To improve bilateral relations between Uganda and Turkey and promote Uganda’s access to the Turkish market - a population of 85 million.

To promote Uganda’s special tourism and wildlife attractions for increased tourism receipts and to commence the establishment of the Uganda - Turkey Industrial park and Trade Centre.

To promote opportunities in the agriculture industries, and access cheap machinery for fruit processing and other manufacturing and ICT opportunities

 

The conference showcased the diverse investment opportunities in Uganda’s key sectors of manufacturing, industrial parks, mineral beneficiation, agricultural value addition, and tourism.

 

Sources:NTV News

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