President Yoweri Kaguta Museveni and his South African counterpart, His Excellency, Cyril Ramaphosa, are expected to address the ongoing trade, investment, and tourism summit organized by the two countries, South Africa and Uganda currently underway in in Pretoria, South Africa.
The summit that started on Monday, February 27th, is aimed at boosting bilateral relations, trade, and tourism between the two countries.
In attendance are the Ugandan Ministers of Foreign Affairs, Gen. Odongo Jeje Abubakhar, Matia Kasaija of Finance, Francis Mwebesa of Trade and Industry, and Eveline Anite of Investment, among others.
The summit has attracted over 300 delegates, both private and public, including business captains, ministers, heads of agencies, policymakers, the media, and many others.
According to the Uganda Investment Authority, the summit is being held in the busy business hub of Midrand.
Robert Mukiza, the Director General at the Uganda Investment Authority said, “Uganda enjoys excellent bilateral relations with South Africa, and this is premised on the long-standing bond between our two countries long before South Africa gained independence. The summit is one way we leverage the existing cordial relations to showcase and identify potential areas for collaboration so that we scale up trade between our two countries.”
Uganda’s exports to South Africa include cotton, gold, fish fillets, tobacco, coffee, and fresh flowers. South Africa’s exports to Uganda include machinery, vehicles, plastics, chemicals, electronics, parts and accessories, petroleum, live animals, books and newsprint, textiles, footwear, aircraft, and household goods, but attracting business means jobs, technology transfer, foreign currency, and a market for local products.
The Summit’s overarching objective is to provide a platform for the private sector, government, and business regulatory agencies to freely exchange views, ideas, and information on how to facilitate investment and doing business (including identifying existing and emerging business and investment opportunities in Uganda).
Roundtable meetings with industry experts will follow, focusing on the opportunities of mutual benefit in the Energy, Oil and Gas sectors, boosting African trade in value-added products and unlocking mutually beneficial business opportunities in infrastructure.
On Feb.28, the business community will be provided with a networking platform to identify potential projects and partners for investment and collaboration. This session will be graced by president Yoweri Kaguta Museveni and Cyril Ramaphosa of Uganda and South Africa respectively.
South Africa is one of the fastest-growing sources of foreign direct investment for Uganda.