According to Yonhap News,

(SEOUL=Yonhap News) The Korea Trade-Investment Promotion Agency (KOTRA) signed a memorandum of understanding with the Uganda Investment Authority to boost investment cooperation on May 30 at Imperial Royale Hotel in Kampala, Uganda.

The two institutions agreed to share experiences and information about investment and conduct investment-related joint studies and projects.

Uganda, with the gross domestic product reaching USD 23.6 billion in 2015, has a highly developed tertiary industry. The country also has proven crude oil reserves of 8 billion barrels.

"To achieve win-win cooperation, Korea and Uganda should strengthen their strategic partnership and cooperation on investment," said KOTRA CEO Kim Jaehong.

cool@yna.co.kr

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