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Uganda: Bukenya Woos Turkish Investors
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New Vision (Kampala)
22 May 2008
Posted to the web 23 May 2008
Fortunate Ahimbisibwe
Istanbul, Turkey
Poor technology has hindered Uganda's capacity to export food to the world market, the Vice-President, Prof. Gilbert Bukenya, has said.
"If we can get investors to come to Uganda and explore the raw materials, we are capable of producing huge amounts of food which can be exported," Bukenya said, adding that there was need for people to invest in food industries.
He made the remarks on Wednesday after the signing of mutual trade agreements between 35 African countries, including Uganda, with Turkey.
Mohammed Matovu, a representative of the Uganda Chamber of Commerce, signed on behalf of the Uganda.
Other countries that signed the trade agreement included Kenya, Tanzania, Ethiopia, Liberia, Nigeria, south Africa, Ghana, Cameroon, Senegal and Burkina Faso.
Under the agreement, Turkish and African investors will trade under tax incentives and government support.
The Turkish confederation of businessmen and industrialists will initiate joint investments between African business people and the Turkish.
Bukenya, who led the African delegation of ministers, said Africa had been starved by the West, which was draining resources in form of raw materials.
"They only take raw materials and return the finished good, which is 50 times more expensive. We want to change this tradition and we think that Turkey can become a good partner," he said.
During a breakfast meeting with the Turkish ministers, business community and the African delegation at Polat Renaissance Hotel in Istanbul, the Vice-President noted that Uganda had good policies for investors.
Bukenya said the Government believes that the private sector, led economy can make a difference in Africa.
Turkish foreign minister, Ali Babacan, said his government would open ore embassies in African countries.
He said Turkey had embarked on a programme to improve economic and commercial relations with Africa.
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Babacan advised the Turkish business community to invest in Africa.
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