President Yoweri Kaguta Museveni has officially opened the Uganda Trade Hub, known as Uganda Connect, in Serbia’s capital, Belgrade, during his two-day official visit to the country.
KAMPALA, UGANDA | NOW THEN DIGITAL — President Yoweri Kaguta Museveni officially opened Uganda Connect, the Uganda Trade Hub, in Belgrade, Serbia’s capital, during his two-day official visit to the country.
The hub aims to strengthen bilateral relations between Uganda and Serbia and facilitate the export of Ugandan goods and services to the Balkans region.
I officially opened the Uganda Trade Hub (Uganda Connect) in the city of Belgrade. I am happy because this hub further strengthens our bilateral relations and paves a way for Uganda’s products into the Balkan region, especially our processed coffee.
There's some amount of… pic.twitter.com/c6TYTMt0Rf
— Yoweri K Museveni (@KagutaMuseveni) July 30, 2023
During the Sunday launch, President Museveni expressed gratitude to his Serbian host, H.E Aleksandar Vucic, and the government for providing Uganda with the opportunity to promote its exports in the European country. He emphasized the significance of promoting processed coffee from Uganda in Serbia and other parts of the world.
“There’s some amount of drinking coffee in Serbia and in this part of the world; Russia and other places so we want to promote our coffee to come here processed. They have agreed to buy our processed coffee,” President Museveni said.
“I want to inform you that as Uganda, we have started to open doors for our exports. Unlike some Western powers who want to buy our raw materials, Serbia has allowed, and they are ready to buy our processed goods such as coffee, clothes, food and leather among others,” he added.
Explaining the hub’s vital role in promoting Uganda’s exports, President Museveni stated that it serves as a central contact point for buyers interested in Ugandan products, simplifying the process for potential customers.
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President Museveni thanked the people of Uganda, the Presidential Advisory Committee on Exports and Industrial Development (PACEID) team led by Mr. Odrek Rwabwogo, and other stakeholders for their pivotal role in achieving this milestone in promoting Uganda’s agricultural products globally.
“Thank you so much. This milestone can also help us spread our wings to other parts of the world,” said President Museveni. He also highlighted the potential economic gains from exporting processed coffee, citing that a kilogram could yield $40 USD, compared to only $2.5 USD for unprocessed coffee.
In addition, President Museveni commended Uganda’s trade representative in Serbia, Mr. Bratislav Stoiljkovic, for his dedication to establishing a new trade and investment bridge between the two countries, often using his personal resources to advance the initiative.
I met the President of the National Assembly of the Republic of Serbia, Dr. Vladimir Orlić and his team.
I shared our common history & struggle for freedom and independence. Marshal Tito supported the anti-colonial struggle in Africa and, although a socialist, refused to be… pic.twitter.com/LMaQIBTzoG
— Yoweri K Museveni (@KagutaMuseveni) July 31, 2023
Regarding the issue of tax on processed coffee, President Museveni raised the matter with President Vucic and expressed optimism about its resolution before the Non-Aligned Movement (NAM) summit in Uganda in January.
“I raised it with His Excellency the President, and he is going to look into it. He will also come to Uganda for the Non-Aligned Movement (NAM) summit in January next year and by that time we would have moved quite a bit.”, he said.
Serbia, a landlocked country in Southeastern and Central Europe, functions on the principles of a free market economy. The service sector accounts for two-thirds of its Gross Domestic Product (GDP), making it a service-based upper-middle-income economy in the Balkans.
As per the International Monetary Fund, Serbia’s nominal GDP in 2022 was officially estimated at $65.697 billion or $9,561 per capita, while the purchasing power parity GDP stood at $153.076 billion or $22,278 per capita. The economy is primarily driven by services, followed by industry and agriculture, contributing 67.9%, 26.1%, and 6% of GDP, respectively.
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