We are pleased to announce that the Ministry of Finance, Planning and Economic Development, Uganda Investment Authority, the Embassy of the Republic of Turkey, and the Foreign Economic Relations Board of Turkey (DEiK) will jointly host the Uganda-Turkey Investment, Trade, Industry, and Tourism Summit 2022 from 12th to 13th May 2022 at the Speke Resort Munyonyo.
The theme of this year’s summit will be, “Accelerating Investment, Trade, Industry and Tourism between Uganda and Turkey in the Post COVID-19 era”. The Chief Guest at the summit will be His Excellency the President of Uganda the Republic of Uganda- Retired General, Yoweri Kaguta Museveni. The summit will attract over 600 investors carefully selected by the Uganda Investment Authority, the Embassy of the Republic of Turkey in Uganda, the Embassy of the Republic of Uganda in Turkey, and the Foreign Economic Relations Board of Turkey (Deik).
The Summit will be crowned with the launch of the Uganda-Turkey Industrial Park and Trade Centre in Nakasongola which will be constructed through a partnership between the Uganda Investment Authority and the UPDF’s National Enterprise Corporation.
Uganda-Turkey trade relations
Uganda and Turkey have enjoyed warm and cordial bilateral relations since 1969. These were further cemented with Turkey’s opening of a fully-fledged Mission in Kampala in 2010 and Uganda’s reciprocal opening of a Mission in Ankara in 2011. Both countries are members of the Organization of Islamic Conference (OIC) and have implemented several joint projects in the Education, Agriculture value addition, Environment, Infrastructural Development, ICT, and Construction spheres through the Turkish Cooperation and Coordination Agency (TIKA). As a result of these and other efforts, the trade volume between both countries increased to US$71 million in 2021, up from US$63 million in 2020. In 2021 alone, Turkish exports to Uganda increased by 26% and Uganda’s exports to Turkey increased by 418%.
As a result of the continuous marketing initiatives and expositions organized in 2019, the trade and investment figures between the two countries registered steady growth to over 71M USD even during the pandemic.
The Uganda Investment Authority is therefore keen to attract more Turkish companies and businesses to invest in different areas of the economy beyond their existing fields of operation, namely: education, infrastructure development and medicine. Likewise, Turkey is happy to offer a ready market for many Ugandan products including coffee, tea, handicrafts, and processed fruits, among others.
Uganda-Turkey Trade, Investment, Industry and Tourism Summit 2022
The Uganda-Turkey Investment, Trade, Industry and Tourism Summit 2022 will be aimed at identifying, engaging, and attracting new investment leads from Turkey and promoting Uganda as a preferred investment destination in Africa, as well as facilitating engagements between potential investors and Ugandan business people.
The specific objectives of the Summit are:
- Establishment of a Uganda-Turkey Industrial Park and Trade Centre
- Promote opportunities in the four priority sectors- Agriculture, Industries, Services, and ICT.
- To promote Uganda’s access to the Turkish market- a population of 85 million, a GDP of 720 billion USD and occupying a unique geographic position lying partly in Europe and partly in Asia- A bridge between the two continents.
- To promote Uganda’s unique tourism and wildlife attractions for increased tourism receipts;
- To promote Uganda’s investment opportunities to Turkish potential investors and attract them into value addition in the mining sector (For example processing of copper from Kilembe Mines to produce electricity cables, processing of Sukulu Phosphates in Tororo to produce fertilizers, and processing Iron Ore in Muko- Kabale to produce high-grade steel.) We shall also promote investment in agriculture and agro-processing, Construction, Manufacturing and Energy.
- To enhance bilateral relations between Uganda and Turkey.
- To attract Turkish contractors and financiers into Uganda’s infrastructure investments- roads, railways, energy generation, and transmission and maritime sector.
- Provide opportunities for joint ventures, partnerships, and B2B linkages between Turkish and Ugandan investors and businesses.
- Promote the textile industry and access to cheap machinery for fruit processing and other manufacturing.
Turkish investors, financiers, FDI intermediaries, Government officials, thought leaders, policy experts, Ugandan companies, and businesses are invited to participate and benefit from the investment opportunities that will be on offer through various Business to Business and Business to Government meetings organised by Ministry of Finance, Planning and Economic Development through Uganda Investment Authority. Additionally, the Summit will include: the plenary sessions on various thematic areas, sector-specific sessions, business-to-business meetings, government-to-business meetings, media engagements, and the closing session. The summit will showcase the diverse investment opportunities in Uganda’s key sectors of manufacturing, industrial parks, mineral beneficiation, agricultural value addition, and tourism.
I thank you and we shall see you at the summit
Hon. Evelyn Anite
Minister of State for Finance, In Charge of Investment and Privatisation
H.E. Kerem Alp
Ambassador of the Republic of Turkey to Uganda
Mr. Morrison Rwakakamba
Chairman of the Board of Directors, UIA