In a bid to improve the relationship between Uganda and the European Union, the Uganda Investment Authority (UIA) is set to host the third Uganda-European Union Business Forum 2024 under the theme “Boosting Trade and Investments: What Can Uganda Gain from the Global Gateway?” with the aim of boosting trade and investment in Uganda.
The business forum set to take place from March 5-7, 2024, at Speke Resort Munyonyo Hotel in Kampala was revealed during a press conference organised by UIA at Omono Hotel in Kampala on February 20, 2024.
The chairperson of the UIA, Morrison Rwakakamba, noted that the Authority will showcase bankable projects at the forum, stating that they would like to see more EU investments in Uganda and more exports to the European market.
“UIA will continue to illuminate investment opportunities that we can present to EU investors because we see lucrative investment opportunities in pharmaceuticals, electronics, agro-equipment, and edible oils,” he said.
The investment minister, Evelyn Anite, stated that President Yoweri Kaguta Museveni, who has been at the forefront of the fight for the value addition of Ugandan goods, will be the chief guest of the forum.
“Uganda is now exporting more to Europe than it imports; gone are the days when we exported raw materials without value addition. We thank the EU for leading our call for value addition.” She stated
The Ambassador of the EU in Uganda, Jan Sadek, said that through the Uganda-EU business forum, we want to demonstrate that together we can improve economic relations and stimulate private investment and trade between Uganda and the EU.
“In 2019, European Union investments in Uganda were at 45% of Foreign Direct Investment (FDI) in Uganda. This demonstrates the role EU plays in FDI inflows into Uganda,” he said.
The EU exports stand at 700 million euros, while Uganda exports to the EU are at 800 million euros.
