The Vice President Jessica Alupo has said that EU remains Uganda’s second largest market for agricultural products specifically coffee 70% of the total exports and 26% for fish.
The Vice President made the remarks during the closure of the 2nd Uganda – EU business summit in Munyonyo.
Alupo says Uganda and EU have enjoyed warm and cordial bilateral relations because of the historical, cultural and geographical linkages noting that EU is among the top sources of FDI for Uganda and a top destination for Ugandan exports.
Uganda’s total trade increased from Euro 707 million in 2009 to Euro 893 million in 2019 registering a 26% growth.
“EU remains Uganda’s second largest market particularly for agricultural products specifically coffee that accounts for 70% of the total exports and 26% for fish,” Alupo said.
She added that the Uganda Government is keen on attracting more investments from EU through this engagement and in return the Ugandan business community is encouraged to take advantage of this engagement to expand partnerships that enhance technology, skills, financing, standards and further deepen access to EU markets.
“Our philosophy is to provide a one Stop Centre to investors across all Government MDA’s, ease the business environment, and reduce the cost of doing business. This service is available at Uganda Investment Authority,” Alupo revealed.
“Uganda has an excellent working and living environment: Rated as the 3rdmost welcoming country in the world and 4th best country in the world to visit. Uganda has excellent housing and international schools and the lowest cost of living. Uganda has the fastest growing work force in the region and flexible labour regulations, a key advantage for companies investing in labour intensive operations.”
She further retaliated Uganda’s commitment in exploring a new relationship with EU under the Economic Partnership Agreement (EPA).