PSFU signs an MOU with the Confederation of Indian Industry (CII)Kathryn
On the 25th July 2018 the Ugandan business committee was honored to host the Rt Honorable Prime Minister of India Shri Nandera Modi and H.E the President of the republic of Uganda Yoweri Kaguta Museveni to a business forum at Kampala Serena Hotel.
The Chairman PSFU Mr. Patrick Bitature requested the Private Sector in Both India and Uganda to build on the historical relationship between the 2 countries to grow the Trade between the 2 countries. He also requested that this be a new era where PSFU working with The Confederation of Indian Industry (CII) would set up a Private Sector Incubation center to help the Ugandan Private Sector develop Value addition in their Products they manufacture
The President of CII Mr. informed the Business forum that CII has 4 areas of working with Ugandan Private Sector and these are; Infrastructural development, Setting up of Export processing Zones, in agriculture setting up food security and processing areas for value addition and finally having an enormous competitive edge in renewable energy.
President Yoweri Museveni called on the Indian business community to reduce the trade imbalance between Uganda and India which is characterized by Uganda buying more from India than India is doing from Uganda.
Prime Minister Narendra Modi, on his part, assured President Museveni that India was ready to reduce the trade imbalance between the two countries. He noted that the other key priority areas the two countries could cooperate and maximize opportunity, include human resource development and value addition to agricultural products
A Memorandum of Understanding was also signed between PSFU and CII for collaboration between the 2 institutions for the growth of the Private Sector.