Uganda Means Business

By: H.E. Dr. M.A. Kisuule, Ambassador of Uganda, Embassy of the Republic of Uganda, Riyadh

It is with great pleasure that I invite you to explore possibilities for trade and investment in Uganda - the fastest growing economy in East Africa. Uganda offers excellent opportunities not only for trade but also to develop and penetrate lucrative markets in East Africa. Neighbouring countries like Kenya, Tanzania, Rwanda, Congo (Zaire) are markets with immense potential and can be tapped from Uganda.

It is a well know fact that the East African region as a whole has emerged as one of the fastest growing markets in the world for consumer and capital goods. The import of goods and merchandise into the East African countries has registered a two-fold increase in the last two years. Uganda has been at the forefront of this economic revolution currently sweeping through East Africa through its bold trade liberalisation policies and sweeping economic reforms.

Statistics speak for themselves - Uganda has been recognised as the fastest growing economy in the region. The GDP growth rate achieved by Uganda in the last decade has been remarkable, to say the least. By participating and strengthening in regional trade promotion bodies like the Common Market for Eastern and Southern Africa (COMESA) and the Preferential Trade Agreement (PTA), Uganda has contributed immensely to the economic progress and well being of the region as a whole.

The Middle East in general and the United Arab Emirates in particular has been a favoured trade partner for Uganda. Besides being a major source of oil, the United Arab Emirates has emerged as one of the largest suppliers of goods and services to Uganda. Trade between Uganda and the United Arab Emirates has been growing with the passing of each year. Many Ugandans are now flying regularly to Dubai to purchase goods and merchandise which are available at competitive prices.

Our national carrier, Uganda Airlines, has played an instrumental role in developing direct trade relations between the two countries by providing direct flights between Dubai and Entebbe. In the last few years, Uganda Airlines has reported an overwhelming increase in traffic on its Dubai-Entebbe sector - a clear indication of growing trade relations between Uganda and the United Arab Emirates.

The interest shown by UAE-based companies in the markets of Uganda and its neighbouring countries was evident through their overwhelming participation in the 2nd Afro Business Trade Fair which was held in Uganda last year. The forthcoming 3rd Afro Business Trade Fair being held in Kampala, Uganda provides an excellent opportunity for companies in the Middle East to establish longterm business contacts in the markets of East Africa. Going by the immense success of the previous Afro Business Trade Fairs, I am sure the forthcoming trade fair will be an even greater and bigger event than last yeard’s and will play an even greater role in the promotion of trade and commerce between the two regions.

I invite you to participate in the 3rd Afro Business Trade Fair and become part of the business community in East Africa. I am hoping that an even greater number of companies will participate in the Afro Business Trade Fair this year and utilise this opportunity to forge useful business ties with Uganda - the country on the move.

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