Kampala, Uganda (BBN)-Officials said the two countries are set to sign a Memorandum of Understanding (MoU) to share information and technology on trade where Bangladesh will be exporting its textile and jute products to the country, the Daily Monitor newspaper has reported.
Mahmood Hudda, the Honorary Consul of Bangladesh in Uganda, said the export of jute products to Uganda is timely as the country moves from plastic packaging to biodegradable materials.
“The MoU has been presented to the Ministry of Internal Affairs for vetting of documents to formulate the bilateral trade. We are also looking at the Trade Ministry to look into tax exemption on importation of jute to facilitate the trade on duty free basis,” the newspaper quoted Hudda as saying.
On taxing jute products, Uganda’s Trade Minister Amelia Kyambadde said it is an issue that will be considered in future since the country has already undergone the budgeting process.
Hudda, who led a delegation from Bangladesh for a meeting with Ms Kyambadde, also revealed that Uganda will also be exporting rice to Bangladesh.
“This is a long-term strategy because we want to encourage our private sector to extend expertise in Jute and textile production in Uganda to promote development,” he added.
Ms Kyambadde said the import of jute products comes at a time when Uganda is phasing out the use of plastic materials for packaging in favour of environment friendly materials.
“The trade relationship we are opening up is one way of expanding our potential and exposing people to new technologies and opportunities to do business,” said Ms Kyambadde.
She also appealed to the public to utilise the opportunities to research and tap and into the new opportunities such as use of papyrus, bamboo and the various government initiatives for development.