Minister for Africa speaks at UK/Uganda Business Forum
7 May 2014 03:35 PM
Mark Simmonds promotes
the UK’s partnership with Uganda, trade and investment, and human rights
and good governance.
Foreign Office Minister for
Africa, Mark Simmonds MP, yesterday spoke in the opening session of the
UK/Uganda Business Forum at Lancaster House, organised by the Commonwealth
Business Council.
Prosperity is one of the Foreign
& Commonwealth Office’s priorities. This forum will support our
efforts to build the UK’s reputation internationally and create
opportunities for British business to strengthen the UK
economy.
The aim of the forum is to
attract increased British investment to Uganda, where there are significant
opportunities in many sectors, including oil & gas, energy, infrastructure,
agribusiness, and finance.
During his speech Mr Simmonds
highlighted the British government’s willingness to work in partnership
with the Ugandan Government to help create a strong investment environment in
Uganda, promoted the wide-ranging opportunities for doing business with Uganda,
and praised the quality and expertise of British companies.
The Minister for Africa spoke of
the strong commercial relationship:
Britain, with investments of
over £2 billion, remains the largest cumulative investor in Uganda.
It’s a position we want to retain and build upon…We are working
hard to deepen these commercial links. There have been several recent
successful trade missions from the UK to Uganda; including from the London and
Aberdeen Chambers in March this year.
In addition, we will break new
ground when the Lord Mayor of the City of London heads a high level financial
services mission to Kampala in September; the first such visit to Uganda. This
underlines the importance the UK places on the Ugandan market and its
significant potential.
On human rights and good
governance, the Minister for Africa said:
We are also clear about the
values that support a stable, democratic, and prosperous society. Our
‘Good Business’ Action Plan highlights that human rights and good
governance are essential for a country’s security and
prosperity.
A country that is accountable
and treats its people with dignity is more likely to foster creativity,
ingenuity and economic opportunity – all prerequisites for long term
growth.
Mr Simmonds had a bilateral
meeting with President Museveni and hosted a lunch with Foreign Minister
Kutesa. Mr Simmonds will also attend an evening reception hosted by the City of
London Corporation.
Further
information
The forum has been organised by
the Commonwealth Business Council (CBC) and follows an event held in Kampala in
April 2013, also organised by the CBC in partnership with the Uganda Investment
Authority (UIA).
The high level Ugandan
delegation to the London Forum is led by President Yoweri Museveni, and
includes seven Ministers and approximately 40 senior officials from a range of
Ugandan Ministries. The forum is also attended by senior UK business
representatives from over 100 key UK companies, including Barclays, Bechtel, De
La Rue, Globeleq, Investec, Tullow, Petrofac, and Standard
Chartered.
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