Smooth Relationship: Trade Volume Between Uganda & Turkey Stretches To $94m From $71m Last Year

Smooth Relationship: Trade Volume Between Uganda & Turkey Stretches To $94m From $71m Last Year

By Spy Uganda

Turkey’s Ambassador to Uganda Mehmet Fatih Ak has said trade and investment opportunities are abundant in Uganda for Turkish investors in various sectors.

In a meeting late Saturday with a Turkish trade delegation from Antalya Organized Industrial Zone comprising companies operating in the plastic, agriculture, food, construction, and machinery sectors, among others, Ak said: “I am happy with the Turkish business people’s growing interest year by year in the African continent, and Uganda in particular.

“Our total trade with the African continent has reached $40 billion by 2022. With Uganda, our bilateral trade has increased to $94 million, from $71 million last year. We can bring this figure to 0 million in a couple of years. ( ”

He added: “Turkish contractors have undertaken infrastructure projects in Africa, with a total value of $83.3 billion so far.”

Uganda exports to Türkiye a wide range of products, including coffee, tea, vanilla, cocoa beans, processed fruit, fish, and handicrafts, among others.

Uganda’s State Minister for Foreign Affairs Okello Oryem told the Turkish investors who met him at his office that the government gives free land in industrial parks, fully serviced with electricity, water, tarmac roads, high-speed internet, industrial waste treatment plants, and tax holiday, among other incentives.

The delegation also held meetings with Ugandan State Minister for Agriculture, Animal Industry, and Fisheries Fredrick Bwino Kyakulaga and State Minister for Cooperatives Frederick Ngobi Gume.

Türkiye’s presence in Uganda is growing with contractors carrying out major development initiatives in the public and private high-tech infrastructure. This year, the Ugandan government contracted Yapi Merkezi, a Turkish company to build a section of the Standard Gauge Railway line.

According to the latest data from the World Bank, Uganda has one of the lowest crime rates and most stable inflation rates in East Africa – averaging 4.89%. an accessible web community

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