Day one of the Uganda-Algeria Trade and Investment Forum & Exhibition kicked off today, Saturday, September 30, 2023, at Hotel Africana with delegates from both countries advocating for value addition and mutual respect for quality requirements.
The forum will run throughout the weekend until Monday, October 2, 2023, under the theme; “Harnessing Benefits of AfCTA; Strengthening Bilateral Trade Relations Between Uganda and Algeria”.
The forum is being organized by the Ministry of Trade, Industry, and Cooperatives in partnership with the National Chamber of Commerce, the Presidential Advisory Committee on Exports and Industrial Development (PACEID), and the Ministry of Foreign Affairs with support from the Uganda Marketers Society.
The Uganda Algeria-Business and Investment Forum aims to unite trade & investment policymakers, key business groups, trade institutions, and regional organizations from both Uganda and Algeria.
Geraldine Ssali, Permanent Secretary, the Ministry of Trade, Industry and Cooperatives, thanked the Algerian government for their cordiality.
“Whenever we come to Algeria, we feel at home. I began to say Algeria is a home away from home for me. Thank you so much. We would like you to also feel at home.” she said.
She also expressed willingness to give Algerians free economic zones so that they can enjoy competitive prices from Ugandan producers so they don’t feel the pinch of high costs of production when they come.
“If we work with Algeria, gone will be the days of looking for a funder for our oil because they are self-sufficient in the oil and gas sector.” H.E. Alintuma Nsambu, Ambassador of the Republic of Uganda to Algeria, noted.
H.E. Oualid Cherif, the Ambassador of the People’s Republic of Algeria to Uganda, was pleased that the efforts between the two countries were crowned with the holding of what he referred to as a ‘historical’ forum.
“This development comes as a translation of the strong will demonstrated by our two heads of state, Mr. Abdelmadjid Tebboune and Mr. Yoweri Museveni, to further enhance these relations in the commercial and investment fields. Like Uganda, Algeria advocates for value addition to its raw materials and the diversification of its economy and its earnings by promoting the non-hydrocarbon exports and boosting the local production of goods and services,” he said.
Mr. Odrek Rwabwogo, the Chairman of the Presidential Advisory Committee on Exports and Industrial Development, reiterated H.E. Oualid’s point regarding value addition as this will go a long way to boost trade relations between the two nations.
He also urged Ugandan exporters to be intentional by researching new markets to avoid entering them blindly.
“We need to be very intentional, very deliberate from studying the tastes & preferences of our brothers in Algeria & other markets we want to export to & ensure we know what to supply them in terms of standards, quantities and certification”.
PACEID is tasked with growing Uganda’s exports to USD6Bn by 2028.
The President of the National Chamber of Commerce, Ms. Olive Kigongo encouraged Ugandan business people to explore Algeria and discover the opportunities it offers to gain a competitive advantage.
Frank Tumwebaze, the Minister of Agriculture, Animal Industry and Fisheries, said: “Opportunities abound in Uganda. We invite you not only to engage in trade with us but also to actively participate in the value-addition process.”
Investment Promotion Agency guided Ugandan traders through the company registration process for trading with Algeria, including the duration of the investment period offered to licensees.
“The Algerian Investment Promotion Agency is actively engaged in promoting investment, providing information, streamlining registration procedures, and managing the associated benefits,” she said.
Others present were Dr. Francis Mwebesa Cabinet Minister of Trade, Industry and Cooperatives, Hon. Harriet Ntabazi, Amb. Katureebe Tayebwa from the Ministry of Foreign Affairs, John Mulimba State Minister of State for Regional Affairs.