Kampala — In a bid to benefit from the African Growth and Opportunity Act (AGOA) extension, US companies will now partner with Ugandan companies especially in agribusiness.
The business partnerships are expected to step up Uganda's production and capacity of the agricultural sector, levels of trade and investment between the two countries.
This was one of the outcomes during the meeting between the US agricultural trade mission and the Private Sector Foundation Uganda stakeholders in Kampala last week.
Addressing the stakeholders, US Ambassador to Uganda Deborah R. Malac said tapping into the enormous potential of Uganda's agricultural sector and linking it to the vast American markets is a winning combination both countries can profit from.
"One of my primary goals as the American Ambassador to Uganda is to see that bilateral trade and investment flourish between the United States and Uganda.
"When you think about the potential of this partnership, you begin to get a sense of the unlimited possibilities that that are before us. I am confident that we are on the right track," said Ms Malac.
The senior presidential advisor on AGOA and Trade, Mrs Susan Muhwezi, said the initiative has faced various challenges, including supply side constraints, lack of direct linkages with the US markets and lack of partnerships between US companies, Ugandan firms and private sector.
"The easiest way to penetrate the AGOA market is to have an American partner. Why, because the Americans know their market and the challenges best," Ms Muhwezi said.