Oman Chamber of Commerce and Industry (OCCI) has signed a Memorandum of Understanding (MoU) with the Uganda National Chamber of Commerce and Industry.
The memorandum aims to develop economic and trade relations between the two countries, enhance cooperation between private sector institutions, encourage trade and investment initiatives, build partnerships, and expand business relations.
Fields of cooperation include exchanging economic and trade information, data, and reports, introducing markets and investment opportunities, encouraging direct communication between business owners, organizing trade delegations, participating in exhibitions and economic events, exchanging expertise in foreign trade and export promotion, and providing facilities for visiting delegations.
This took place during a meeting in which Faisal Abdullah Al Rowas, Chairman of the Board of Directors of Oman Chamber of Commerce and Industry, received a delegation from the Uganda National Chamber of Commerce and Industry, headed by Karamagi Alpha Charles, currently visiting the Sultanate of Oman.
During the meeting, ways to enhance trade and investment cooperation between the Sultanate of Oman and the Republic of Uganda were discussed, alongside expanding partnerships between private sector institutions in both countries.
The two sides discussed investment opportunities in the sectors of agriculture, agro-processing, tourism, mining, and science, technology, and innovation, in addition to introducing available opportunities in these fields and the potential to establish joint projects and partnerships. The delegation reviewed the incentives and facilities provided by their country to encourage investment and attract investors to priority sectors.
Furthermore, the two sides discussed preparing a joint action plan to activate the Memorandum of Understanding, designating a focal point at each chamber to follow up on implementation and coordination, and exchanging information on prominent economic exhibitions and events in both countries.
This will enable business owners to explore participation opportunities, build direct trade relations, and coordinate with relevant Omani authorities to enhance partnership and cooperation prospects.
The MOU follows a series of commercial diplomacy engagements facilitated by the Honorary
Consul of the Sultanate of Oman in Uganda, Mr. Ingah Atamba Kutesa, aimed at strengthening
trade and investment relations between the two countries.
Through these engagements, the
Honorary Consul brought the two Chambers of Commerce together, paving the way for
discussions that culminated in the signing of the MoU.