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In a media statement released today, the President of the South African Chamber of Commerce and Industry (SACCI), Mr Chose Choeu, said:

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The South African Chamber of Commerce and Industry (SACCI) will sign a Memorandum of Understanding with the Uganda National Chamber of Commerce and Industry (UNCCI) to establish the South Africa-Uganda Business Council (SUBUCO). President Jacob Zuma and President Yoweri Museveni will attend the event.

In establishing SUBUCO, it is the joint intent of SACCI and the UNCCI to:
• To establish and develop a comprehensive framework for cooperation between business communities in Uganda and South Africa in matters relating to trade, investment, technology transfer, services industry and such other matters as the parties may from time to time agree.
• To promote the conduct of business between Uganda and South Africa.
• To provide a forum for interaction between Ugandan and South African entrepreneurs.

It is envisaged that SUBUCO will facilitate higher levels of bilateral trade between South Africa and Uganda and to enhanced intra-Africa trade.
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