Wednesday, May 29, 2024
HomeNATIONAL NEWSTrade Ministry PS Ssali Uses NAM to Market Uganda As a Good...

Trade Ministry PS Ssali Uses NAM to Market Uganda As a Good Investment Destination

Getting your Trinity Audio player ready...

The Non-Aligned Movement Business Forum and Trade Exhibition, held as part of the ongoing NAM Conference, kicked off yesterday, drawing attention to the country’s potential as a key partner in trade, tourism, and investment.

At the forum, Geraldine Ssali Busuulwa, the Permanent Secretary of the Ministry of Trade, Industry, and Cooperatives, urged investors to seize the opportunity presented by Uganda’s youthful labour force.

Busuulwa pointed out the effectiveness of NAM member states in meeting their objectives, particularly in deriving tangible benefits from trade and investment. She, however, highlighted the widening gap between the “haves” and “have nots,” stressing that developing countries, especially those in the global South, are not reaping substantial benefits from the multilateral system.

A central focus of Mrs. Busuulwa’s remarks was the need for collaboration and synergies within NAM and G77+China to address challenges in trade. She highlighted the importance of creating more open markets for exports, especially in key sectors like agriculture.

The Permanent Secretary stressed the necessity of reducing tariffs and non-tariff barriers to improve market access, particularly for agricultural products, which are vital for many member countries.

To the investors, who came from different member states, the PS tipped them to consider investments in Uganda by taking advantage of the conducive business environment and also the country’s youthful population, with 77% under the age of 25.

She further urged cooperation through technological advancements and industry, emphasizing the potential for the NAM Youth Organization to create employment and contribute to the development objectives of member countries.

The Permanent Secretary shared Uganda’s industrial outlook, emphasizing the significant role of SMEs, which account for over 90% of sectors like agriculture and industry. Mrs. Busuulwa invited investors to explore bankable opportunities in sectors such as agro-industrialization, highlighting the importance of manufacturing inputs, cold storage facilities, logistics, and agro-processing equipment.

Mrs. Busuulwa urged delegates to engage in candid self-analysis to strengthen cooperation and achieve workable recommendations for the benefit of NAM member states. The event promises to be a platform for fostering partnerships that will contribute to shared global affluence and economic growth.

The East Africa Trade and Investment Forum which will be running through the NAM/G77 Summit, was today opened by Vice President Jesicca Alupo.

It is running under the theme; “Deeper Cooperation in Trade, Tourism, and Investment for Shared Global Affluence.”

- Advertisment -

Most Popular

Recent Comments

Jjemba Roger on VJ Junior arrested
nsubuga on VJ Junior arrested
Mabonga antony rei martins on VJ Junior arrested
Herbert on VJ Junior arrested
Herbert on VJ Junior arrested
Obidike Isaac on VJ Junior arrested
ocitti Sunday Welborn on Police Arrests People Power Coordinator