Business
Turkish-Uganda partnership starts
Publish Date: Feb 07, 2014
Turkish-Uganda partnership starts
Atakan Giray, (left) the acting chairman of the Turko Group explaining the operations of the new group as Ersin Eren, the chairman of the Turkish-Ugandan Business Council looks on
  • mail
  • img
newvision

By Stephen Ssenkaaba      
 
In March, more Ugandan business people will be able to directly liaise with their Turkish counterparts and explore investment opportunities. This is because the Turko Group, a Turkish business consortium, will open offices in Kampala, making access to information, connections for stronger business ties between the two countries more practical.
 
Speaking at a media briefing in Kampala, Ersin Eren, the chairman of the Turkish Ugandan Business Council said the new office will help to facilitate the business environment that will enable Turkish businessmen and their Ugandan counterparts closely work together and benefit from trade and business opportunities in both countries.
 
“We have been visiting Uganda for some time and we are getting to interest Turkish businessmen in Uganda through this office,” he said. The office will provide information about business opportunities in Turkey for Ugandan businessmen as well as consultancy services. It will also link Ugandan businessmen to their Turkish counterparts.
 
The office, 95% of whose staff will be Ugandan, will concretise plans for the establishment of a series of Turkish owned business and investment companies in the areas of manufacturing, oil exploration, tourism, agriculture, health and energy. 
 
For the beginning $20m (sh49.4b) will be spent on the establishment of these ventures. The plans will include establishment of a Turkish restaurant, meat processing plant, agribusiness, health and medical facilities as well as construction.
 
Related stories
 
The Turko Group will also work together with its Ugandan partners to market Ugandan products such as  coffee, flowers and tourism to the international market. 
 
How Ugandans benefit
For the Ugandan businessmen, this venture will ease access to the Turkish market. 
 
It also means access to top quality Western products at affordable prices. “We would like to link Uganda businessmen to key Turkish business opportunities through the Turkish Government Foreign Economic Relations Board,” Giray said. 
 
With the existence of a direct flight from Turkish airlines, businessmen are able to travel to Turkey conveniently.
 
The establishment of this office is a step ahead in a thriving trade partnership between Turkey and Uganda which dates back almost 14 years ago. 
 
These relations were further strengthened at the end of 2010 following the visit of Turkish deputy prime minister Bülent  and the subsequent signing of trade agreements between the two countries under the auspices of the Uganda Government and the Turkish Confederation of Businessmen and Industrialists — Turkey’s largest business advocacy group.  
 
The Turkish-Ugandan Business Council was established following the signing of an agreement between DEiK, the Unions of Chambers and Commodity Exchanges of Turkey and Uganda National Chamber of Commerce and Industry, on September 13, 2012. Since then, relations have got better between the two countries.
 
“As a result of this, the trade volume between the two countries is set to increase twofold from $30m (sh74b),” Ersen said.

The statements, comments, or opinions expressed through the use of New Vision Online are those of their respective authors, who are solely responsible for them, and do not necessarily represent the views held by the staff and management of New Vision Online.

New Vision Online reserves the right to moderate, publish or delete a post without warning or consultation with the author.Find out why we moderate comments. For any questions please contact digital@newvision.co.ug

  • mail
  • img
blog comments powered by Disqus
Also In This Section
ERA licenses 9 renewable energy projects
An additional 9 renewable electricity plants, some under the Global Energy Transfer for Feed-in-Tarrifs (GET-FiT) programme, have been licensed to generate 132.7MW to boost Uganda’s transformation into an upper middle class country....
Pump attendants tipped on safety standards in case of fire
Vivo Energy, the company that distributes and markets Shell branded fuels and lubricants has conducted a fire drill to test the response preparedness by staff at Shell Service Stations in case of a fire outbreak. The drill was conducted at Shell Kira Road located at the Bukoto white flats....
UAE Exchange customer wins Xpress Money ‘Win Big’ second weekly draw
Xpress Money recently announced the second weekly draw winner of its ongoing promotion – Win Big. Ms. Ann Minviluz Banquerigo, a customer of UAE Exchange, Lugogo Mall branch, won herself a prize money of UGX 250,000 by simply sending money using Xpress Money services....
Total CEO de Margerie killed in Moscow as jet hits snow plough
MOSCOW - The chief executive of French oil major Total, Christophe de Margerie, was killed when his private jet collided with a snow plough as it was taking off from Moscow's Vnukovo airport on Monday night....
Govt to identify key opportunities for growth
THE Government and World Bank are preparing a joint ‘Country Economic Memorandum’ report, which will identify key opportunities and challenges to accelerating socio-economic transformation...
Business guide in conflict resolution developed
A business guide for the business community to resolve conflicts without resorting to courts of law has been developed....
Was Oscar Pistorius' 5 year sentence fair and just?
Yes
No
Can't Say
follow us
subscribe to our news letter