What you need to know:
Trade volumes between Uganda and Turkey rose from $41m in 2019, to $63m in 2020, before increasing further to $71m in 2021.
Trade volumes between Uganda and Turkey grew by $8m between 2020 and 2021, according to Uganda Investment Authority (UIA).
Speaking during the Uganda Turkey Investment Trade, Industry and Tourism Summit, in Kampala yesterday, Mr Robert Mukiza, the UIA director general, said trade volumes between the two countries rose from $41m in 2019, to $63m in 2020, before increasing further to $71m in 2021.
Interestingly, he said, Uganda’s exports to Turkey have been rising, indicating that the growth in trade has been a two-way affair.
“In 2021 alone, Uganda’s exports to Turkey increased by over 400 per cent. Even during the lockdown period when Covid-19 was at its peak, it actually rose. This was possible because Turkish Airlines kept the cargo flights running during the height of Covid-19,” Mr Mukiza said, noting that Turkey’s commitment to foster investment and business development in Uganda and Africa as a whole is self-evident.
The summit seeks to grow trade volumes between the two countries through a business linkages, government to government meetings, exhibition, investment facilitation and advisory services.
Mr Mukiza said this year’s summit will be crowned by the launch of the Uganda-Turkey Industrial Park and Trade Centre, which will be built in collaboration with UIA and UPDF’s National Enterprise Corporation.
Mr Dogan Ali Dogan the Turkey Uganda Business Council chairman, said top on their priorities is to increase bilateral trade between Uganda and Turkey as well as increase investment activities between the two countries.
In recent years, he said, there has been political and economic relationship with African countries as an important destination for international strategy.
“Our Turkey Africa Business Council, makes significant contribution in line with the goal of creating mutual relationship with African countries and increasing the mutual trade volumes between the countries,” Mr Dogan said.
According to Mr Morrison Rwakakamba, the UIA chairman, Uganda and Turkey have enjoyed warm cordial relationship since 1969, implementing several joint projects in education, agriculture, value addition, infrastructure, ICT and construction.