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 (January 30, 2018).
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.
I highly recommend that consideration be given to the formation of an equivalent formation in South Africa
“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.
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