The Ministry of Agriculture has signed a memorandum of understanding with Elite Agro LLC (EAG) ,a UAE-based company to explore potential business opportunities in the Ugandan tea sector.
Elite Agro is one of the leading producers and distributors of daily fresh vegetables and fruits in the Middle East and engages in growing, sourcing, importing and marketing a wide range of high quality agricultural products through world-class technology and effective distribution chain.
Earlier this week, the company signed a deal that will among others see it set up a tea processing factory in Uganda.
Maj Gen. David Kasura-Kyomukama, the Ministry’s Permanent Secretary signed on behalf of of the Ugandan government whereas Deputy CEO and board member Dr. Abdulmonem Almarzoogi signed on behalf of Elite Agro in Dubai, United Arab Emirates
The MOU was witnessed by Uganda’s Ambassador to UAE Zaake W. Kibedi and the Elite Agro Business Development Director (Agriculture), Chandra P. Singh.
The Board Chairman for Elite Agro presided over the function.
The breakthrough comes as a result of Uganda’s participation in the recent Dubai Expo and subsequent engagements with the Uganda Tea Growers Association and tea farmers in seven districts including Rukiga, Bushenyi, Buhweju, Kabarole, Sheema, Buikwe and Zombo.
On top of exploring opportunities for direct investment in agriculture, Elite Agro also seeks to facilitate trade in agriculture commodities between the UAE and Uganda or other destinations.
Both parties are also aiming for potential synergies in respect of setting up the operations and funding for joint ventures in relation to promoting tea industry in Uganda.
The collaboration is further expected to provide a competitive advantage for the tea sector because Elite Agro plans to establish a facility for tea processing, packaging and value addition.
Maj Gen. Kasura commended the partnership noting that this is part of the ministry’s mandate to offer possibilities for prospective business opportunities in Uganda’s tea sector.
The next step for both parties is to do a feasibility study and evaluate various site option for suitability in setting up a tea factory and understand the tactical and the possible areas of future cooperation.
Would you like to get published on this Website? You can now email Uganda Times: an Opinion, any breaking news, Exposes, story ideas, human interest, articles or any interesting videos on: [email protected]. Videos and pictures can be sent to +3197005035050 on WhatsApp
