SA goods on show in Uganda
SA companies in the agro-processing, capital equipment, energy and furniture sectors will showcase their wares at the Outward Trade and Investment Mission (Otim) in Uganda.
The Otim, organised by the department of trade & industry, starts today and ends on Friday.
"The mission will also introduce South African exporters to the Ugandan market, with the aim of assisting them to gain entry into this market, identify trade and investment opportunities and generate export sales," said trade & industry minister Rob Davies.
Davies said the mission will also help strengthen bilateral economic relations between SA and the East African state.
The mission is organised and funded by the department through its Export Marketing and Investment Assistance Scheme (Emia). The objective of the scheme is to develop export markets for SA products and services and to attract new foreign direct investment into the country. More than 1,000 companies benefited from the scheme last year.
Davies said Uganda is a strategic partner for SA within the East African region, where it enjoys sound political and economic relations through several bilateral agreements.
"More significantly, Uganda enjoys a unique location at the heart of Sub-Saharan Africa, which makes it accessible to the Central and East African markets, including the Common Market for Eastern and Southern Africa (Comesa). This makes the country a viable market for business because it has the potential to be a transportation, logistics and transit hub for regional trade and investment," said Davies.
The mission is part of SA's economic strategy for Africa, premised on implementing an outward investment-led trade approach that will result in two-way trade and investment to benefit SA and its trading partners on the continent.
"The mission is aligned to our mandate of increasing intra-African trade and investment in line with the objectives of the Continental Free Trade Agreement," said Davies.
Uganda is SA's second largest trading partner in East Africa, making it an important trade and investment partner. Bilateral trade between the countries was R2.09bn in 2018, with a trade surplus in favour of SA. SA's exports to Uganda totalled R1.99bn while SA's imports from Uganda were valued at R102m.