Connect with us

Business

Gen Mbadi, Türkiye Trade Minister Discuss Enhanced Cooperation in Istanbul

Published

on

Uganda’s Minister of State for Trade, Industry & Cooperatives, Gen Wilson Mbadi Mbasu, met with his Turkish counterpart, ÖMER BÖLAT, on Monday. The meeting, held at the Hilton Bomonti Hotel in Istanbul, focused on boosting trade ties between the two nations.

Hon. Mbadi highlighted Uganda’s commitment to reciprocity and its openness to Turkish investment. He emphasized the need for establishing a structured Joint Economic Commission (JEC) to address mutual concerns and foster enhanced cooperation. This JEC would serve as a platform to systematically tackle issues and strengthen economic ties.

On his part, Minister Bölät pointed out the relatively low trade volumes between Uganda and Türkiye, which stood at $82 million last year. He stressed the importance of increasing these figures through greater cooperation, acknowledging the capabilities of Turkish companies and Uganda’s adoption of Turkish technologies. Bölät also highlighted the need to resolve issues related to double taxation and energy companies to facilitate smoother business operations.

Both ministers expressed a strong commitment to boosting trade and investment. They discussed leveraging Uganda’s market access and investment incentives to attract more Turkish businesses. Additionally, they agreed to work collaboratively to resolve outstanding issues promptly and deepen cooperation to ease the movement of people, goods, and services.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *