Uganda, Belgian for business protection
Dec 05, 2003
Belgium and Uganda plan to sign a bilateral treaty for mutual protection of their nationals’ investments in both countries
By David Muwanga
Belgium and Uganda plan to sign a bilateral treaty for mutual protection of their nationals’ investments in both countries. A double taxation deal is also being worked out for signing early next year, Belgium Ambassador to Uganda Koenraad Adam said on Thursday.
He said this is part of creating a legal framework conducive to the relevant business people in the two countries.
“The Belgian government is ready to take significant steps in order to contribute to a conducive business environment and legal framework, a bilateral treaty for the mutual protection of investments is ready for signing,†he said.
“We also recently triggered the process that should lead to the negotiations of a bilateral tax treaty, I hope to see positive developments in the coming months,†he said at a one day business forum for the Belgian investors organised by the Uganda Investment Authority (UIA) in Kampala.
He said that the Belgium government has confirmed Uganda’s status as a priority destination for cooperation efforts.
Already Belgium, which is a European Union member, imports vanilla, flowers and fish from Uganda,
UIA records show that since 1991 they Belgians have set up investments totalling $12,777,000 and are employing 487 Ugandans in the sectors of banking, coffee and logistics among others.
“This trade mission is another step to explore new ground for further cooperation. The identification of a good trading partner constitutes an indispensable stepping stone to a mature commercial partnership,†he said.
He said more contacts with locals could increase transfer of expertise and technology.
Belgium and Uganda plan to sign a bilateral treaty for mutual protection of their nationals’ investments in both countries. A double taxation deal is also being worked out for signing early next year, Belgium Ambassador to Uganda Koenraad Adam said on Thursday.
He said this is part of creating a legal framework conducive to the relevant business people in the two countries.
“The Belgian government is ready to take significant steps in order to contribute to a conducive business environment and legal framework, a bilateral treaty for the mutual protection of investments is ready for signing,†he said.
“We also recently triggered the process that should lead to the negotiations of a bilateral tax treaty, I hope to see positive developments in the coming months,†he said at a one day business forum for the Belgian investors organised by the Uganda Investment Authority (UIA) in Kampala.
He said that the Belgium government has confirmed Uganda’s status as a priority destination for cooperation efforts.
Already Belgium, which is a European Union member, imports vanilla, flowers and fish from Uganda,
UIA records show that since 1991 they Belgians have set up investments totalling $12,777,000 and are employing 487 Ugandans in the sectors of banking, coffee and logistics among others.
“This trade mission is another step to explore new ground for further cooperation. The identification of a good trading partner constitutes an indispensable stepping stone to a mature commercial partnership,†he said.
He said more contacts with locals could increase transfer of expertise and technology.