SA and Uganda commit to facilitating trade and investment flows

The Deputy Minister of Trade and Industry, Mr Bulelani Magwanishe together with the Ugandan Minister of Trade, Industry and Cooperatives, Ms Amelia Kyambadde have committed to facilitating trade and investment flows between their respective countries as contained in the Trade Agreement signed in 2002 and in keeping with the principles of the Tripartite Free Trade Area (T-FTA) negotiations.

This momentous declaration was pronounced by the ministers during the conclusion of the 2nd South Africa-Uganda Joint Trade Committee (JTC), which took place in Pretoria, today.

According to Magwanishe, key notable developments to have emanated at the 2nd JTC include the charting of a roadmap for further cooperation to drive trade and investment and investment flows between the respective countries.

“Our Council for Scientific and Industrial Research (CSIR) and the Uganda Industrial Research Institute (UIRI) have already renewed a Memorandum of Understanding (MoU) and have since agreed to collaborate in the areas of agro and food processing, clean production, waste management, product development, Human Capital and Organisational Development,” he said.

In addition, Magwanishe reiterated the need for the South African Bureau of Standards (SABS) and the Uganda National Bureau of Standards (UNBS) to strengthen collaboration on the harmonisation of standards in order to facilitate the smooth flow of trade between the two countries.  Collaboration between the Industrial Development Corporation of South Africa and the newly formed Uganda Development Corporation was encouraged. Furthermore, a new work stream under the JTC was created to focus on the development of small businesses, to be led by the Small Business Development Department in South Africa and the equivalent Unit in the Trade and Industry Ministry in Uganda.

The Ugandan Ugandan Minister of Trade, Industry and Cooperatives, Ms Amelia Kyambadde also noted the importance of promoting private sector to private sector engagements and commended the establishment of the Forum of South African Businesses in Uganda (FOSABU).

“I highly recommend that consideration be given to the formation of an equivalent formation in South Africa and that we develop a mechanism that will enable us to monitor goals achieved by the JTC and that we convene as often as possible instead of the standard once bi-annual period,” she said.

Picture caption: Trade and Industry Deputy Minister Magwanishe and The Ugandan Ugandan Minister of Trade, Industry and Cooperatives, Ms Amelia Kyambadde together during the 2nd South Africa-Uganda Joint Trade Committee meeting.

Enquiries:

 

Sidwell Medupe-Departmental Spokesperson

 

Tel: (012) 394 1650

 

Mobile: 079 492 1774

 

E-mail: MSMedupe@thedti.gov.za

 

Issued by: The Department of Trade and Industry

 

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