Uganda keen on bolstering trade ties with Finland
The State Minister for Foreign Affairs, Henry Okello Oryem, has said Uganda is keen on strengthening ties with Finland.
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On Friday, the two countries held the first ever political consultations, a culmination of a Memorandum of Understanding signed in MOU is a clear demonstration of the importance that that both governments attach to the strengthening of bilateral relations, and cooperation on international matters of interest.
“In this regard, I am glad to note that our relations are anchored on firm ground, and we are satisfied by the support and cooperation with Finland. I am convinced that, the start of these political consultations will open a new chapter to further cement these relations, and pave way for more engagement in other strategic sectors, such as trade, investment, tourism and energy,” Oryem said.
The Ugandan minister said the consultations came at a time when the world around is facing many challenges.
These range from peace and security at a regional level; through a delayed global recovery from the effects of the COVID-19 pandemic; to climate change and increasing humanitarian crises. This is all happening in the midst of aspirations for socio-economic development, prosperity and transformation at national level. More than ever, therefore, such challenges call for enhanced cooperation, collaboration and partnership, at bilateral, regional and international levels.”
The Undersecretary of State in the Ministry of Foreign Affairs in the Republic of Finland Pasi Hellman described it as an honour to be in Kampala for the first ever political consultations with Uganda.
He said a number this meeting will culminate into strengthened ties between the two countries in the areas of trade, economic relations, education and human rights among others.
Hellman also applauded Uganda for her peace efforts in Eastern Africa particularly in Somalia.
The two countries agreed to hold a second political consultation in Finland on a yet to be agreed date.
According to a joint communique, the two delegations expressed their unwavering desire and commitment towards the promotion of peace and security at the regional and international levels, support of multilateral rules based order, as well as supporting and promoting sustainable development and human rights.
The political consultations also saw an exchange of views on topical issues of importance to the two countries, such as regional political and security developments; Uganda’s refugee policy, trade and investment; civil society, human rights and education; cooperation in multilateral affairs; women and youth issues; the global agenda on the environment and climate.
They reaffirmed their commitment to working together in pursuit of peace, stability and sustainable development.
Trade volumes
In 2022, Uganda exported goods worth $6.82 million to Finland.
The main products that Uganda exported to Finland are Coffee , vegetables and oily seeds and in the last 27 years, the exports of Uganda to Finland have increased at an annualized rate of 7.41%, from $990,000 in 1995 to $6.82M in 2022.
In the same year, Finland export goods worth $4.41 million to Uganda.
The main products that Finland exported to Uganda were Kraft Paper, Stone Processing Machines and Padlocks.
