President Museveni has flagged off the export of military consignments manufactured by Southern Ranger Nyanza Limited(Nytil)to Equatorial Guinea.
The consignment included 5,400 cartons of army uniforms and accessories for the Equatorial Guinea army manufactured in Uganda.
The items were first displayed to President Museveni before the Minister for Defence, Vincent Ssempijja officiated at the flagging off ceremony at Entebbe Air base.
Speaking at Entebbe, Ssempijja applauded the presidents of Uganda and Equatorial Guinea for the initiative.
I wish to specifically thank His Excellency Obiang Nguema Mangue who has been behind this strategic effort to link our brotherly countries in the sphere of trade and investments," Ssempijja said.
According to Ssempijja, Uganda and Equatorial Guinea have been cooperating in different areas including the defence and security .
He added that the scope of the cooperation has expanded to include trade which will result into increased revenue for the socio-economic development and mutual benefit of the African People.
The minister encouraged other sectors to borrow a leaf from Nytil by exploiting the available market opportunities in the region and far so that together as a country, they are able to build a resilient economy.
The Picfare Industries Limited Managing Director, Mitul Jobanputra, applauded President Museveni for his commitment to help grow the local manufacturing sector.
"Since the advent of Buy Uganda , Build Uganda(BUBU)in, Nytil has invested in excess of US$ 20 million to either increase production capacity or diversification of product range that has seen us get a fully-fledged medical division that produces personal protective equipment and medical sundries like medical grade cotton wool and gauze," Jobanputra said.
"In line with the agro manufacturing strategy under NDP3, Nytil has expanded its production capacity for armed forces uniforms and accessories that has enabled us to become one of the largest and finest suppliers in Sub Saharan Africa."
He said Nytil produces uniforms, tents, ponchos, sweaters, warm suits, T-shirts, overalls, over coats, sleeping mats, magazine pouches, towels, bed sheets among others.
"We have therefore been able to leverage on our two decades of supply to the armed forces in Uganda to make strategic market entry into Equatorial Guinea."
He said exporting 5400 cartons of military uniforms and other accessories to Equatorial is done under provisions of the Continental Free Trade Area.
The Nytil Managing Director noted that they aim at reaching other regional markets beyond East Africa with support from government.
"Such initiatives are critical in reducing the trade deficit of Uganda, knowing that Uganda imported goods and services worth USD10 billion in 2022 while she exported only about USD 6.0 Billion resulting into the USD 4.0 billion deficit that must be addressed by exporters in Uganda."