Serbia opens a new chapter in economic relations with Uganda - Memorandums of Cooperation in the field of agriculture and tourism have been signed

Source: eKapija Monday, 31.07.2023. 10:38
Uganda is not only a large market, with 50 million consumers, but one of the fastest growing African economies and it is very important that the Serbian economy strengthens business ties not only by promoting trade, but also the investment sector, exchange of knowledge and technology, as well as IT industry, said Marko Cadez, president of the Serbian Chamber of Commerce at the opening of the Serbian-Ugandan business meeting.

The presidents of Serbia and Uganda, Aleksandar Vucic and Yoweri Kaguta Museveni, stress their support for the business community and call on all businesspeople and companies to build bridges of cooperation and partnerships, the Chamber's official website reported.

Cadez said that with the visit of Ugandan President Yoweri Kaguta Museveni to Serbia, a new chapter of, until now under-utilized, economic cooperation opens. The president of SCC stated that over 100 businesspeople from Uganda and Serbia are present at the business meeting today in order to exchange their experiences and knowledge about mutual cooperation.
He added that we now have a trade exchange, admittedly not as big as it could be.

- Uganda is not only interesting to us because of its almost 50 million inhabitants, or because of its big market, but because Uganda is part of the Eastern Economic Community of seven African countries, the fastest growing economy in Africa and part of the African economic space - said Cadez.

- If we look at what is currently happening in Uganda and Serbia, there is a practical need for the cooperation in the agricultural sector, the food industry, and we are talking about agricultural production and knowledge transfer, up to some things like "smart agriculture" - said Cadez.

He pointed out that in Uganda has a deposit of phosphates, which are important to us for the production of artificial fertilizers.

Cadez stated that there is a possibility of cooperation in the field of tourism and that we should think not only in terms of trade cooperation.

He emphasized that the physical presence of our agriculture in Uganda is important.

- This is, for example, the construction of agricultural factories for the processing of raw materials, i.e. for the application of new methods of growing agricultural crops, and the production of cotton, also very interesting. Medical material, consumables, there is potential there and our companies are interested in working there - said Cadez.

What is also interesting is, as the SCC president explains, that we have a big chance in the project supported by the World Bank in Uganda for "smart agriculture", because we can provide our knowledge in the field of innovative technologies. Without good personnel, there is no economy and good cooperation; we can open up our potentials for Uganda through state-owned and private faculties and schools, he said. Cadez invited Uganda to take part in EXPO 2027 as well.

He pointed out that the opening of the restaurant and market representing this African country in Belgrade, scheduled for tomorrow, is also crucial.

President Vucic assessed at the forum that it is strategically important for Serbia to have a presence on the African continent because it sees Africa as a strategic partner in the future, and that thanks to its friends from Africa and Asia, it got the organization of EXPO 2027.

Regarding concrete cooperation in the construction industry with Uganda, the president said that Energoprojekt, as well as our other construction companies, are ready to work in that country.

- There are economies in Africa that rely on state ownership, but this is not the case in Uganda, where private investors are welcome and this guarantees the success of its economy. I invite Serbian businesspeople to, consider opportunities for investment in Uganda, with the support of our government and the Chamber of Commerce - said Vucic.

- Uganda is such a country that we produce all the raw materials, but we need cooperation with global partners, including in Serbia, in order to create added value, because we are at a great loss by exporting raw materials - said Museveni, inviting Serbian companies to participate in creating that added value.

Representatives of the governments of Serbia and Uganda signed memorandums of understanding and cooperation in the fields of agriculture and tourism today at the Palace of Serbia.

The Memorandum of Understanding between the Ministries of Agriculture of the two countries relates to cooperation in promoting climate smart sustainable practices, food security and encouraging cooperation and technology development. It was signed by the Minister of Agriculture, Water Management and Forestry in the Government of Serbia, Jelena Tanaskovic, and the Minister of State in the Ministry of Agriculture, Livestock and Fisheries of Uganda, Bright Kanyontore Rwamirama.

The Memorandum of Understanding between the Ministry of Internal and External Trade of Serbia and the Ministry of Trade, Industry and Cooperation of Uganda was signed by the Minister of Internal and External Trade Tomislav Momirovic and his colleague from Uganda, Harriet Ntabazi.
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