President Yoweri Kaguta Museveni had a productive meeting with Ahmed Bin Abdul-Aziz Kattan, the Royal Court Advisor in Saudi Arabia. They discussed potential trade and investment prospects between the two nations at State House Entebbe.
The leaders focused on the possibility of Saudi Arabia adding value to Uganda’s coffee industry.
President Museveni highlighted the financial loss from exporting raw coffee and urged Saudi Arabia to invest in coffee processing. He emphasized that processing coffee in Uganda would increase its value and cited the example of the oil industry’s growth after adding value to crude oil.
“I want you to invest in coffee processing. We lose a lot of money from selling raw coffee, we get only $2.5 per kilogram instead of $40. It is like oil the way it was in the past where a barrel of oil in 1969 was 40 cents, it was not even $1 USD. When there was the Arab-Israeli war in 1973, that is when there was a boycott and a barrel went to $40,” Museveni said
Museveni proposed that Saudi Arabia could help Uganda find a company to roast, grind, and pack coffee locally. He underlined the global market potential for processed coffee and the benefits of agreements like the African Growth and Opportunity Act (AGOA) for boosting exports.
Kattan assured President Museveni of Saudi Arabia’s willingness to cooperate and invest in Uganda. He invited Museveni to Saudi Arabia for two forthcoming summits, highlighting the Kingdom’s interest in strengthening ties between the two nations.
Foreign Affairs Minister Gen. Jeje Odongo and members of the Saudi Arabian delegation were also present at the meeting. President Museveni welcomed the cooperation and affirmed his intention to attend the summits in Saudi Arabia.
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