By Dedan Kimathi
President Yoweri Museveni and his South African Counterpart Cyril Ramaphosa are expected to grace a trade summit that is scheduled to take place between February 27th and 1st March 2023 in Pretoria.
This development was announced at a press conference held on February 7, 2023.
Deducting from a communique, the fete dubbed “Uganda- South Africa Trade, Tourism and Investment Summit” will also attract Heads of Government Departments and Agencies, Policy Makers, and the private sector.
According to the Chief Executive Officer of the Private Sector Foundation of Uganda (PSFU) Stephen Asiimwe, the three day engagement will provide a platform for Private sector players and business to create new markets and identify emerging business or investment opportunities in the two countries.
“South Africa is one of the fastest growing sources of Foreign Direct Investment for Uganda as the South Africa’s exports to Uganda. In 2010 alone, Uganda attracted FDI of up to US$ 848 million,” Asiimwe said.
“We also intend to link up with the Ugandan diaspora in South Africa to create partnerships with them on the many opportunities they are engaged in. It is estimated that there are over 500,000 Ugandans living and working in Southern Africa,” he pointed out.
“So far, 160 Ugandan businesses have already registered to participate in the summit with the highest percentage coming from the sectors of Agriculture and Agri-business, Tourism and Hospitality, Professional Services, Transport and Logistics, Energy and Minerals, and ICT,” he added.
At the core, the summit intends to highlight Uganda’s beauty and economic potential of becoming Africa’s leading destination for Trade, Tourism and Investment.
Suffice to note, the event and related activities are coordinated by PSFU, a body which was founded in 1995 and has since served as a focal point for private sector advocacy, capacity building and continues to sustain a positive policy dialogue with Government.
The other implementing partners are the Government of the Republic of Uganda’s Ministry of Trade, Industry and Cooperative (MTIC), Ministry of Foreign Affairs, High Commission in Pretoria Ministry of East African Community Affairs (MEACA), Uganda Export Promotion Board (UEPB), Uganda Investment Authority (UIA) and Uganda Tourism Board (UTB).
According to United Nations COMTRADE data base, Uganda exported goods and commodities to South Africa worth $11.41 (Shs 41.8 billion).
