President Yoweri Museveni has been announced as the chief guest at the two-day Uganda-Turkey Investment and Tourism Summit that will start on May 12.
The event is being organized by the Ministry of Finance, Planning and Economic Development, the Uganda Investment Authority (UIA) in partnership with the Embassy of Turkey and the Foreign Economic Relations Board of Turkey (DEik).
During the summit, both countries will explore market access and investment opportunities that will culminate in the launching of the Uganda-Turkey Industrial Park in Nakasongola District.
UIA is currently on a drive to encourage Ugandan investors to move into manufacturing and industry as the country embarks on a program of industrialization the hallmark of which is the establishment of 25 Industrial Parks.
Trade between the two countries has seen a steady increase that has continued despite the challenges of the COVID19 pandemic.
Trade volumes rose to US$71 million in 2021 up from $63m in 2020. In 2021 alone, Turkish exports to Uganda increased by 26% and Uganda’s exports to Turkey increased by 418%.
This marks Turkey, a country that straddles two continents (Asia and Europe) and with close ties to Africa, as one of the most promising prospects for economic collaboration.