As the Non-Aligned Movement (NAM) Summit progresses, the call to establish a NAM Business Council gains momentum, aiming to enhance coordination in trade, investment, and facilitate access to concessional financing. With 120 member countries, including 53 from Africa, 39 from Asia, 26 from Latin America and the Caribbean, and two from Europe, as well as observer countries and organizations, the proposed Business Council aims to serve as a special purpose vehicle.
During the East Africa Investment Forum and Trade Exhibition, Vice President Jessica Alupo, delivering President Museveni’s speech, emphasized the significance of such a platform for NAM membership. Private Sector Foundation Uganda (PSFU) CEO, Mr. Stephen Asiimwe, shared in an interview that efforts are underway to have the proposal officially declared as one of the outcomes of the NAM meeting in Kampala.
The envisioned Business Council, or a similar entity, is expected to focus on fostering business ties, expanding markets, facilitating technology transfer, and promoting joint ventures. The proposal aligns with the developmental objectives aimed at advancing economic cooperation and collaboration among NAM member nations.
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