The Republic of Uganda and the Republic of South Africa have held a week-long Joint Commission of Cooperation (JCC) meeting in which they discussed matters of trade, that included the elimination of Non-Tariff Barriers (NTBs), reduction of the cost of doing business between both countries, and protection of investments among others.
The JCC meeting, which lasted five days in Kampala, was the second after the first one was held in South Africa 10 years ago.
Speaking during the meeting, the South African Minister of International Relations and Cooperation, Dr Naledi Pandor said that issues concerning trade and investment are very vital, emphasizing that the two nations must address the cost of doing business between both countries, and the elimination of Non Tariff Barriers.
“Issues related o trade and investment are critical. We need to address all the challenges that threaten and derail the deepening and expansion of our bilateral cooperation. A clear way forward has to be agreed in relation to the implementation of the signed bilateral agreements and the review of the dormant agreements ought to be conducted thoroughly with a view to explore new areas of cooperation,” Naledi said.
“As South Africa, our objectives for this Second Session of the JCC include conducting deliberations that lead to the reduction of the cost of doing business between the two countries, removal of barriers to market access for products originating from our two countries, exploration of ways to promote protection of investments, especially in view of the fact that the Africa Continental Free Trade Area (AfCFTA) has been ratified by our governments,” she added.
Dr Naledi further said that the quest for solutions to eradicating poverty, job creation and reduction of inequality should influence the content, scope and direction of the meeting as these are shared challenges of people in both countries.
Uganda and South Africa enjoy excellent, historical bilateral relations forged over several decades.
The Minister of State for Foreign Affairs, Henry Okello Oryem said the engagement was a vehicle for furthering both countries’ bilateral ties.
“The JCC will bring benefits for our two peoples. It will promote mutual prosperity through trade, investment and tourism. It will contribute to eradicating poverty, increasing household income, and creating decent jobs for our youths, and creating prosperity for all,” said Minister Oryem.
South Africa is one of Uganda’s biggest trading partners. In 2021, the trade volume between Uganda and South Africa was approximately $194 million.
“We believe that there is much more that can be done to diversify the range of export products, address standards issues, and ease the visa requirements for our private sector,” said oryem.
The private Sector is key to the growth and development of both countries. Various South African private sector companies dominate Uganda’s market in various sectors that including; banking, and telecommunications, among others.
Oryem told the South African delegation that Uganda welcomes more South African companies to explore investment opportunities in Uganda, especially in priority sectors outlined by the government of Uganda in the National Development Plan III (NDP III).
Uganda’s NDP III has identified priority sectors, including; agro industrialization, petroleum development, tourism and mineral development.
Minister Oryem said it would be meaningful to see more industries of South Africa engage in value addition so that they invest in agriculture and minerals in which Uganda is richly endowed