TRADE relations between Uganda and Nigeria is set to boom following the signing on Saturday of three trade, investment promotion and protection and science and technology agreements.
The visiting Nigerian minister of state for foreign affairs Chief Dubem Onyia and his Uganda counter parts Nduhuura Richard (trade), Sam Kuteesa (investment) and Tom Butime (international relations) signed for their countries.
Kutesa told the press shortly after the signing ceremonies that the investment promotion and protection agreement would encourage investments in each otherâ€™s country by giving them equal protection.
â€œThese trade and investment promotion and protection agreements will facilitate investment and trade between our two countries. Uganda can export to Nigeria dairy, fish and other products, while Nigerians can bring to us gold, oil and others,â€ Kutesa said
He urged the civil servants in Uganda to give the necessary support and facilitation for the successful implementation of the agreements.
Chief Dubem Onyia said , â€œIt is about time that we Africans begin to invest in our own continent. In doing so we shall be giving confidence to our investors and enhancing stability,â€ he said.
Nduhuura said under the agreements, the two countries would hold trade exhibitions in each otherâ€™s country, remove trade barriers thereby promoting trade.
â€œWithin the terms of these agreements, the two countries will also work together in ensuring that we benefit from global trade arrangements such as the World Trade Organisation(WTO) and others,â€ he said.
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