Following a meeting of businessmen from the two countries and a private meeting with President Aleksandar Vučić, President Museveni, who is leading the Ugandan state delegation on an official three-day visit to Serbia, stated on July 30, 2023, that although Uganda produces a lot of food and raw materials, it loses billions because it only sells raw materials.
President Museveni further urged the Serbian Government to continue the partnership it had with Uganda and encouraged the Serbian businessmen to provide value addition for Ugandan goods, primarily coffee, iron and lithium.
“I invite Serbian friends to come and cooperate with us and create added value,” said Museveni.
Using the example of coffee, the president enumerated everything the country is losing in the world market for failing to add value to Ugandan products.
The coffee market in the world is worth 460 billion dollars, and Africa, which produces coffee, gets only 2.4 billion, while Germany, which does not produce it, earns 6.8 billion dollars from coffee, the Ugandan president asserted.
What is true for coffee is also true for iron, Museveni added, stating that a tonne of raw iron ore costs $47 and that a tonne of steel is worth $600 to $900.
“I didn’t allow the export of iron ore and lithium. They think I’m stupid to export lithium and then they make batteries and cars. No, no, no! Come to Uganda and make lithium and cars there,” said Museveni.
Vučić pointed out that the “historical friendship” with Uganda has never been questioned and invited Serbian businessmen to consider investment opportunities in Uganda and cooperation with Ugandan companies.
Additionally, he emphasised Serbia’s readiness and offered cooperation in the fields of construction industry, healthcare, energy, and information and communication technology.
He declared that Serbia will send a mission to Uganda at the end of August to explore all potential avenues of collaboration.
Vučić also said that by the end of 2024, a direct flight between Belgrade and Entebbe could be established.
A direct flight between Belgrade and Entebbe could be established by the end of 2024, President Vui confirmed.
