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Čadež: New Chapter of the Economic Ties with Uganda

Jul 30, 2023

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Uganda is not only a large market, with 50 million consumers, but also one of the fastest growing African economies and it is very important that the Serbian economy strengthens business ties not only in the promotion of trade but in the investment sector, exchange of knowledge and technology, as well as the IT industry, pointed out Marko Čadež, the president of the Chamber of Commerce and Industry of Serbia at the opening of the Serbian-Ugandan Business meeting. 

The presidents of Serbia and Uganda, Aleksandar Vučić and Yoreveri Kaguta Museveni emphasized their support for the business community and called on businessmen and companies to build bridges of cooperation and partnerships.

Čadež said that with the visit of Ugandan President Jureveri Kugata Museveni to Serbia, a new chapter for economic cooperation opened which was not so much used. The president of CCIS stated that more than 100 businessmen from Uganda and Serbia were present at the business meeting today in order to exchange experiences and knowledge about mutual cooperation.
He added that the trade exchange was not high as it could be.

"Uganda is not only interesting to us because it has almost 50 million inhabitants, and a big market, but because Uganda is part of the Eastern Economic Community of seven African countries, the fastest growing economy in Africa, and part of the African economic zone," Čadež said.
"At this moment, if we look at what is happening in Uganda and Serbia, there is a practical need for cooperation in the agricultural sector, the food industry, and here, we are talking about agricultural production, knowledge transfer, and things like "smart agriculture",  Čadež said.

He pointed out that there is a deposit of phosphates in Uganda, which are important for the production of artificial fertilizers.
Čadež stated that, apart from trade, there is a possibility of cooperation in the field of tourism. He emphasized that the physical presence of our companies in agriculture in Uganda is important.

"This is, for example, the construction of agricultural factories for raw materials processing, that is, for the application of new methods of growing agricultural crops, starting the production of cotton, which is very interesting. There is also potential and interest of our companies to work with Medical material and consumables", Čadež said.

What is also interesting,  is that we have a big chance in the project supported by the World Bank in Uganda for "smart agriculture", because we can give our knowledge in the field of innovative technologies, explained the president of CCIS, adding that without good experts, there is no economy and good cooperation. "We should open up potential through state and private faculties and schools", Čadež said, inviting Uganda to take part in EXPO 2027. He pointed out that the opening of restaurants and markets in this African country in Belgrade is also important.

Vučić: Africa is Serbia's strategic partner in the future

President Vučić assessed at the forum that it is strategically important for Serbia to be present on the African continent because Africa is seen,  as a strategic partner in the future. He added that thanks to friends from Africa and Asia, Serbia won the organization of EXPO 2027.

Regarding concrete cooperation in the construction industry with Uganda, the president said that Energoprojekt, as well as other construction companies, are ready to work in that country.
"There are economies in Africa that rely on state property, but this is not the case in Uganda, where private investors are welcome and this guarantees the success of its economy. I invite Serbian businessmen, with the support of our government and the Chamber of Commerce, to consider opportunities for investment in Uganda ", says Vučić.

Museveni: Cooperation with Serbia in order to create added values
Uganda is such a country that we produce all raw materials, but we need cooperation with partners in the world, including in Serbia, in order to create added value, because we are at a great loss by exporting raw materials, said Museveni, inviting Serbian companies to participate in creating and added value.

Signed Memorandums of Cooperation in the field of agriculture and tourism

 Representatives of the governments of Serbia and Uganda signed MoU in the fields of agriculture and tourism.

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