A delegation of 150 Algerian investors will be coming down to Kampala for the Uganda-Algeria Business Forum where also, an Algerian products exhibition will be staged on the sidelines of the conference.
The Algeria business Community comprising 34 companies will participate in the forum and another 62 in the exhibition, a show of exceptional relations between the two countries.
It should be remembered that just weeks ago Algerians were in Kampala for the international coffee conference.
The investors drawn from different business interests will be keen on doing business with Ugandans especially in the area of agriculture including coffee, milk, avocado, bananas, pineapples, among others. In addition, serious investors in textiles, steel, mining etc are expected in Kampala to explore opportunities in the pearl of Africa.
The delegation will be led by the Algerian Minister for Trade and exports promotion, Mr Tayeb Zitouni. They’re expected in the country on September 28 for the November 30th business forum.
At the end of the forum, there will be a deal signing ceremony between the Ugandan and Algerian Chambers of Commerce. Ugandans who want to do business with Algerians will be required to be recommended by the Uganda national Chamber of Commerce.
According to Uganda’s Ambassador to Algeria, H.E Alintuma Nsambu, this is a product of the flourishing relations between the two countries especially in the area of commercial diplomacy and cultural exchanges.
He said, “Algeria is positioning itself as the continent awaits for implementation of the Africa free trade area whereby goods and services traded within Africa Union members will be tax exempted.”
On the other hand, the Algerian President announced a billion dollars program to support Algerian business ventures wanting to trade with African Union member countries, a deal that Uganda has effectively tapped into.
H.E Nsambu said Uganda is benefiting from the good relationship between the two countries, and a lot is at table as H.E the President of Uganda Yoweri Kaguta Museveni has shown strong leadership in the bilateral agreements he has signed with Algerians in the recent years.
H.E Nsambu who is credited for growing this valuable diplomatic partner, said Algeria is the second importer of Ugandan coffee on the African continent after Sudan-Khartoum , and ranks number five in the world, according to statistics from the Coffee Development Authority. He promised to ensure Ugandan coffee heading to Algeria reaches the number one spot. He also added that Uganda milk has a big market awaiting it in Algeria and called upon milk producers and exporters to quickly take advantage of this opportunity.
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