UAE-Uganda Trade And Investment Forum In Kampala Strengthens Economic Ties

The Sharjah Chamber of Commerce and Industry (SCCI), through the Sharjah Exports Development Centre (SEDC), organised the UAE-Uganda Trade and Investment Forum in Kampala, Uganda, on Wednesday, November 13. This event was part of a trade mission to East Africa. The forum included business meetings between Emirati companies and major Ugandan firms across various sectors.

These discussions aimed to enhance economic partnerships, share expertise, and explore new investment opportunities between the two nations' business communities. Abdallah Sultan Al Owais, Chairman of SCCI, led the delegation. Uganda’s Minister of Trade, Industry, and Cooperatives, Hon. Mwebesa Francis, and Abdalla Hassan AlShamsi, UAE Ambassador to Uganda, were also present.

The forum highlighted promising investment opportunities in both Sharjah and Uganda. It showcased services offered by different institutions and entities. Discussions focused on expanding economic cooperation in trade, industry, and investment across key sectors. The aim was to identify priority areas for collaboration.

Al Owais praised the strong ties between the UAE and Uganda. He emphasised the Chamber's dedication to fostering economic cooperation through trade missions and forums that encourage reciprocal investments. These initiatives aim to build fruitful partnerships among business leaders from both countries.

He noted significant growth in bilateral trade between the UAE and Uganda. Trade volumes increased from AED 70 million in 2014 to nearly US$2 billion by mid-2022. Non-oil trade also rose significantly from US$228.7 million in 2015 to approximately US$1.226 billion in 2023.

Exploring New Opportunities

Hon. Mwebesa Francis commended the Sharjah Chamber for organising a forum that brought together business representatives from both nations. He highlighted that this platform is crucial for exploring potential partnerships and strengthening bilateral relations.

The UAE-Uganda economic partnership has grown steadily since its establishment in the 1970s. Key sectors include investment, trade, renewable energy, environment, industry, and other areas aligned with both countries' developmental goals.

Understanding Local Market Needs

The Sharjah Chamber’s mission to Uganda includes visits to local companies and factories. These visits provide Emirati delegates with insights into production mechanisms and Ugandan market needs. The mission concludes today with further meetings with investors and officials.

These interactions aim to boost commercial ties between Sharjah and Uganda by fostering deeper understanding and collaboration between their business communities.

With inputs from WAM