Bangladesh and Uganda would soon sign a Memorandum of Understanding (MoU) to share information and technology on trade where Bangladesh will be extending its textile and jute products to the country.
“The MoU has been presented to the Ministry of Internal Affairs for vetting of documents to formulate the bilateral trade. We are also looking at the Trade Ministry to look into tax exemption on importation of jute to facilitate the trade on duty free basis,” said Honorary Consul of Bangladesh in Uganda, Mahmood Hudda, recently, who reportedly led a delegation from Bangladesh for a meeting with former Ugandan Trade minister Amelia Kyambadde.
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“The trade relationship we are opening up is one way of expanding our potential and exposing people to new technologies and opportunities to do business,” underlined Kyambadde.
It may be mentioned here that there reportedly exists no tangible trade relations between Uganda and Bangladesh even though a number of Bangladeshi NGOs, such as BRAC, are operating in Uganda and have influential presence in the social development of the country.
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“Our country does not produce cotton yet we do a lot of spinning that is why we are looking at countries like Uganda to provide us with material (cotton). We have come to exchange our ideas on business and trade because there are no direct links in terms of textile development,” reportedly stated Secretary to the Government of Bangladesh, Quader Sarker, who added that they are are working to fast-track the MoU for all sectors between the two countries.
