OREANDA-NEWS. December 28, 2012. A Russian-Ugandan business meeting was held at the Chamber of Commerce and Industry of Russia on the sidelines of the official Russian visit of President of the Republic of Uganda Yoweri Kaguta Museveni.

CCI of Russia Vice-President Georgy Petrov, Director of the Russian Foreign Ministry African Department Sergey Kryukov, Director of the Institute for African Studies of the Russian Academy of Sciences Alexey Vasilyev, Moscow government member, head of the Moscow City Foreign Economic and International Relations Department Sergey Cheryomin, Russian Ambassador to Uganda Sergey Shishkin, Russian businessmen, as well as President of the Republic of Uganda Yoweri Kaguta Museveni, members of the Ugandan delegation and heads and members of the African diplomatic corps attended the event.

Georgy Petrov opened and chaired the meeting. He thanked Ugandan President Yoweri Kaguta Museveni for visiting the CCI of Russia again. A similar meeting of the Ugandan president with Russian businessmen was held at the Chamber three years ago, and representatives of 60 Russian companies participated in it. The interest in the new meeting was equally large.

Significant changes have taken place in Uganda and Russia since the last visit of President Yoweri Kaguta Museveni. Uganda’s national economy has been developing steadily; Uganda is a leader in Sub-Saharan Africa by the economic growth parameters (average 6.4% per year). Favorable conditions are being formed for foreign business, especially in industries, agriculture, mining, power industry and road construction.

Russia has also witnessed positive changes. There is a firm policy of Russian economic modernization through innovations and high technologies. The government relies on Russian development institutes in the attainment of this goal. Georgy Petrov attributed to major events of 2012 the startup of the Common Economic Space of Russia, Belarus and Kazakhstan and Russia’s entry into the WTO, which, without doubt, are going to promote more active and profound integration of Russia and Russian businessmen into the global economic system. The lately formed Russian Agency for Export Credit and Investment Insurance (EXIAR) is an important instrument of foreign economic activity, and the Chamber has a binding agreement with the EXIAR on the joint support to exports and Russian investments abroad.

Meanwhile, the amicable nature of Russian-Ugandan regions and the growing interest of Russian business in Africa, including Uganda, remain invariable, Georgy Petrov said. The Coordination Council for Economic Cooperation with Sub-Saharan Africa was founded by the initiative of the CCI of Russia and the Institute for African Studies of the Russian Academy of Sciences in July 2009. Its membership has doubled to more than 120 organizations, companies and public associations within three years. The committee is transforming into an authoritative agency promoting the development of Russian-African relations.

Uganda is a promising African partner of Russia. Bilateral trade has increased by 20 times in three years and topped USD 600 million in 2011. Uganda’s membership in the Common Market for Eastern and Southern Africa (COMESA), which unites 20 countries with the total population of approximately 400 million people, gives an easy access to markets of other member states of the organization.

Russian companies remain enthusiastic about the Ugandan market, Georgy Petrov stated. The Kazan Helicopter Plant has opened a representative office in Kampala, where a team of Russian specialists assists in the operation and maintenance of Russian helicopters in Uganda; Russian business has invested in a cotton processing plant, and JSC Skorostnoi Flot has established a company, High Speed Uganda. The AGROTEKHMASH agricultural and food machine building association has taken a big interest in the country’s market and plans to sign a contract on the delivery of milk processing equipment today. This is an example of real cooperation. Agriculture, processing of agricultural products, geological survey, power industry, healthcare, telecommunications and automobile deliveries are promising areas of cooperation.

CCI of Russia Vice-President Georgy Petrov stressed in conclusion that the Chamber was prepared to continue assistance in the development of Russian-Ugandan trade and economic relations.

Director of the Russian Foreign Ministry African Department Sergey Kryukov addressed the audience on behalf of the Russian Foreign Ministry administration. He welcomed the Ugandan delegation and emphasized that the former Soviet Union and Uganda declared half a century ago their mutual wish for the development of interstate relations on the principles of mutual respect and friendship. Russia values Uganda as a good friend and an efficient and responsible partner.

Director of the Institute for African Studies of the Russian Academy of Sciences Alexey Vasilyev developed the subject. He said that time had come for Russia’s comeback to Africa and Africa’s comeback to Russia. Uganda is a country capable of achieving a high level of economic and technological development. This is of particular importance due to the escalating global competition and Russia-Uganda cooperation prospects.

Moscow government member, head of the Moscow City Foreign Economic and International Relations Department Sergey Cheryomin informed the audience about the development of mutually beneficial relations between the Russian capital city and the Republic of Uganda. He singled out the upcoming signing of an agreement on building a milk processing plant.

President of the Republic of Uganda Yoweri Kaguta Museveni was the next speaker. He dwelt on the economic potential of Uganda and stressed that, in his opinion, the national success depended on four factors, namely the degree of the development of entrepreneurship, the consumer market, the infrastructure and the availability of highly skilled labor force. Uganda is lacking entrepreneurship in industries, which is why Uganda is interested in cooperating with Russia in this key area, as well as in investments. Machine building, telecommunications, extraction and processing of mineral resources (crude, copper, cobalt, molybdenum, tungsten, phosphates and so on), agriculture (coffee and bananas), processing of agricultural products, textile industry, tourism and some other sectors are promising for bilateral interaction. In conclusion, President of the Republic of Uganda Yoweri Kaguta Museveni invited Russian businessmen to actively cooperate with Uganda business and, in particular, invest in the Ugandan economy.

Two documents were signed at the meeting: an agreement between the AGROTEKHMASH agricultural and food machine building association and the Embassy of the Republic of Uganda on cooperation in milk processing and a memorandum of mutual understanding between the General Satellite Corporation and the Ugandan Television and Radio Broadcasting Company in the development of communication satellite systems.

At the end of the meeting, the President of Uganda was decorated with a public award “Duty, Honor and Glory” for his large contribution to the strengthening and development of Russian-Ugandan relations. A representative of the International League of Veterans of the Armed Forces and Law Enforcement Agencies presented the award.