Uganda and Russia have concluded the 3rd Session of the Intergovernmental Commission on Economic, Scientific, and Technical Cooperation. The Session, meant to review various frameworks for enhanced cooperation between the two countries, took place at Speke Resort Munyonyo.
While addressing the delegations, Minister of Foreign Affairs, Hon. Gen. Odongo Jeje Abubakhar, commended the decades-old friendship between Uganda and Russia dating back to the pre-independence struggles. The two countries share common values and have collaborated in promoting international peace and security, respecting international law, and working towards the social and economic transformation of their peoples.
During the Session, the two countries agreed that it is time to translate the good relationship into tangible outcomes for the benefit of their peoples. Although trade, investment, and cooperation between the two nations have been increasing, it was pointed out that there is still a lot of untapped potential that may significantly alter Uganda’s economy.
Uganda continues to engage with Russia bilaterally and multilaterally through the BRICS family of nations as well as the United Nations. The two countries pledged to continue to stand together in the face of global challenges such as unilateralism, loss of trust in the international institutions and climate change.
Gen. Odongo invited Russian investors and experts in key sectors including Oil and Gas, Agro-processing, Industrialization and Human Capital Development in science and technology. He also invited the Russian business community to take advantage of the existing incentives for investment, the huge EAC market as well as the Africa Continental Free Trade Area framework (AfCFTA) which opens up the African market to goods produced within Africa.
The Russian delegation was led by H.E. Bella Cherkesova, the Deputy Minister of Digital Development, Communications and Mass Media of the Russian Federation. Ms. Cherkova said that there is a lot more potential between both countries that was yet to be exploited including tourism as a major attraction for Russians.
The Ministers witnessed the signing of a Memorandum of Understanding for cooperation between Makerere University and the Moscow-based National Research University Higher School of Economics.
