H.E Ambassador Henry Mayega addressing journalists at Ministry of Foreign Affairs Headquarters in Kampala
Ugandans to reap big from the 2nd edition of Uganda-United Arab Emirates (U.A.E) Business Forum that will be held in Kampala at Speak Resort Hotel Munyonyo were participants from the two countries will discuss various business opportunities across the different sectors of their economies.
The three day annual business forum will commence on October 10th and end on 13th 2023 and has attracted about 30 participants from U.A.E while the number of the local participants is open.
Uganda’s Ambassador to U.A.E, H.E Henry Mayega while addressing journalist at the Ministry of Foreign Affairs headquarters on October 5, 2023 said that the business forum will enhance the economic relationship between the two nations which in turn will foster economic growth in the long-run.
He said that their will dialogue among the participants from the two countries hinging on how to promote trade and investment especially in Uganda such that the volume of trade can be able to increase as well attracting foreign direct investment.
The Forum will be under the Theme: ‘’The Gateway of Doing Business in the East African Community Region’’.
The Ambassador said that through this forum government of Uganda will show its counterpart that Uganda is a better destination in the EAC for trader from the Middle East to enjoy and do fast trade without being interrupted.
“ The main objectives of the forum is to attract the Foreign Direct Investment in our country, enhance the development of the tourism sector, facilitate technology transformation and also mobilize Ugandans in Diaspora to appreciate the need to invest in their mother countries’’. H.E Mayega said.
He further said that the priority areas that are being looked at include; Commercial Agriculture, Agro-processing promotion, tourism, energy and minerals, education were Ugandans who wish to study in U.A.E can be given scalorships, manufacturing as well as infrastructures and public transport will also be discussed in the forum.
The volume of trade between the two nations is currently standing at US $ 59 billion as imports from U.A.E well as Uganda’s export to her counterpart is only US $ 2billion according to the United Nations COMTRADE database on international trade.
Uganda imports mainly secondhand cars from U.A.E while it exports mostly raw agriculture products like fruits, flowers, coffee and others. The volume of trade was significantly affected by pandemic and now the Ukraine-Russia war that is currently hindering the transport system because of the ban imposed on Russian transport companies.
Mr. Mayega also revealed that the government is currently negotiating with authorities in the U.A.E to see that she allows exportation of the skilled labour something that will help to ease the unemployment challenge in the country and also enhance on the foreign exchange earnings.
According to the data from the ministry of Gender Labour and Social Development, there over 100, 000 unskilled Ugandan workers working in U.A.E.
By George Bukenya