KAMPALA– President Yoweri Kaguta Museveni has emphasized the need for value addition on the products produced within the country so that it can attract market in other countries.
President Museveni made the remarks on Thursday May 12th 2022 while officially opening the Uganda – Turkey Investment, Trade, Industry and Tourism Summit 2022 in Kampala.
President Museveni thanked the Ministry of Finance, Planning and Economic Development, the Embassy of the Republic of Turkey and the Foreign Economic Relations Board of Turkey (DEik) for organising the summit.
The President observed that in order for the Ugandan manufactured products to penetrate the foreign markets, Turkey inclusive, there is need to add value to the locally produced goods that can favourably compete on the International market.
The Uganda – Turkey summit at Speke Resort Hotel Munyonyo in Lampala attracted over 600 investors and and is aimed at promoting investment, trade and tourism between the two countries.
Uganda and Turkey have enjoyed cordial bilateral relations for more than 50 years and both countries are members of the Organization of Islamic Cooperation (OIC) and have implemented several joint projects.
The summit comes at a time when Uganda wants to access markets in Turkiye, with a population of over 85 million, a GDP of over US 700 billion dollars and occupying a unique geographic position, lying partly in Europe and partly in Asia, which is a bridge between two continents.
Turkish ambassador to Uganda Fikret Kerem Alp, said that the Summit was used to discuss issues of bilateral agreements, and memoranda of understanding between Uganda and Turkiye on education, culture and investment promotion and protection were signed.
During the summit, the safety and security of Turkish people staying in and travelling to Uganda took centre stage but the Ugandan authorities assured that all this will be taken care of.
Turkey and Uganda established diplomatic ties more than 50 years ago and enjoy good bilateral relations and the summit will provide an opportunity for the Turkish people to mobilize resources and establish a base in Uganda, where it is already running schools and and hospitals.
In 2016, Turkish President Recep Tayyip Erdogan’s visited Uganda and President Museveni gave assurances that Uganda would not allow anything that undermines Turkey to invest in Uganda.
Speaking at the Uganda- Turkey Summit yestrday, the chairman of Uganda Investment Authority Morrison Rwakakamba underscored the importance of Uganda – Turkey Summit saying that Uganda will provide significant investment benefits to Turkey.
Rwakakamba said that the summit signifies Uganda’s consistency and commitment to private sector development, and further indicates the renewed focus to further increase the profitable execution of Uganda’s abundant investment potential and also said that it enhances the partnership between Turkish and Ugandan business community.