The development comes before the Industries Forum aimed at bringing together Turkish manufacturers and exporters with their potential partners from Africa, set for September in Ankara
Kampala Capital City Authority (KCCA) in collaboration with Bosphorus Expo today held International Business-to-Business meetings at Sheraton Hotel in Kampala, to strengthen trade cooperation and boost exportation of goods.
This follows a successful Türkiye-Uganda business summit co-hosted by the Foreign Economic Relations Board of Turkiye (DEIK) and Uganda Investments Authority in Kampala this year, presided over by the president of Uganda H.E Yoweri Museveni and Turkish Deputy Trade Minister Riza Tuna Turagay.
Several Turkish companies have opened manufacturing plants and other businesses in Uganda, creating jobs and boosting the local economy.
“Türkiye is promoting a model of encouraging its companies to invest more in developing economies rather than just exporting goods to these countries because this helps the local economy to develop, Emek Başak Eker, Uganda’s Honorary Consul to Antalya told news reporters in Kampala”. She said that she will coordinate with Turkish investors to boost investment, production, and export surplus.
Uganda exports to Turkiye a wide range of flagship products such as coffee, tea, vanilla, cocoa beans, processed fruits, fish, and handicrafts among others and these have increased by 418% in 2021.
The country has a robust growing domestic market of nearly 45 million people, and those who invest in Uganda now, have access to the new East African Community (EAC) market hosting 266 million people and a GDP of $243 billion. The EAC stretches from the Indian Ocean to the Atlantic Ocean.
Utuk Bengisu, the founder of Bosphorus Expo and chairman of World Cooperation Industries Forum said that the time to invest in Uganda and enhance partnerships is now adding that Türkiye offers a ready market for Ugandan products.
He announced that a World Cooperation Industries Forum (WCI) aimed at bringing together Turkish manufacturers and exporters with their potential partners from the entire African continent will be held at the biggest fair center of Türkiye congresium Ankara, on September 14-15, 2022.
African countries enjoy access to external markets under special agreements with over 6,000 products eligible for US markets under Africa Growth and Opportunities Act, and quota-free and tax-free access to all products into the European Union under EBA (everything else except arms).
Source: Anadolu Agency
