India, Uganda hold third JTC meeting to boost ties
Ministry of Commerce and Industry has stated that the third Session of the India-Uganda Joint Trade Committee (JTC) took place and marked a renewed commitment to strengthening economic ties between the two nations after a 23-year gap. Both parties acknowledged that the current trade volume does not reflect the full potential of their partnership and has committed to take focused measures to expand and diversify bilateral trade between the countries. Besides, the establishment of an India-Uganda Joint Business Forum to enhance engagement between industry leaders from both countries has been discussed.
India-Uganda in their discussion identified key sectors to boost trade and investment, including minerals, dairy products, essential oils, coffee, cocoa products, pulses, spices, fruits, vegetables, plastic raw materials and residual chemical products. Additionally, cooperation in mining, banking, digital infrastructure, MSME development, health, pharmaceuticals, electric vehicles, critical minerals (including Rare Earth Elements -- REE) and petrochemicals was highlighted as a priority. Both countries have agreed to explore Memorandums of Understanding (MoUs) on the recognition of Indian Pharmacopoeia and collaboration in Public Works and Infrastructure, Agriculture and Allied sectors, Traditional Medicine, and Tele-medicine. They also had a discussion about strengthening ties in standardisation and investment promotion between the countries.
Department of Commerce’s Additional Secretary has underlined the growing partnership in trade and investment and highlighted the importance of collaboration in sectors such as e-commerce, MSME cluster development, pharmaceuticals, solar energy, and rural electrification. The third Session of the India-Uganda JTC was forward looking and both the parties have shown interest in solidifying and boosting economic partnership between the two countries.
