3rd Uganda – EU Business forum to attract more EU investors and deepen trade balance – UIA Chairman Rwakakamba

By Evans Najuna

KAMPALA – As the Country is set to host the 3rd Uganda -EU forum on 5th-7th March this year, the Chairperson of Uganda Investment Authority (UIA) Morrison Rwakakamba has revealed that, the business forum will deepen the country’s trade balance as it seeks to attract more EU investors to bolster value addition especially export readiness for coffee, pharma, electronics, minerals, tourism and edible oils among others.

Rwakakamba revealed this during a press conference in preparation for the three days business forum come this March.

According to Rwakakamba, the business relations between Africa and Europe date 600yrs ago where Africa exchanged valuable ivory, gold and other minerals for low value manufactured products like glass, mirrors among others.

This has fundamentally changed. He added that currently, Uganda exports more to EU than it imports that is between $700 and $800.

He noted that over 1000 EU prospective investors expected and match-making with Ugandan investors is ongoing and rallied all Ugandans get involved and register with Uganda Investment Authority and Uganda Private Sector Foundation.

The Forum, which will open on March 5 and will run until March 7, 2024 at the Speke Commonwealth Resort Munyonyo in Uganda’s capital Kampala, and is the largest and most influential joint Uganda-EU event on doing business and investing in Uganda.

This will be under the theme: “Boosting Trade and Investments”, and sub-theme “What can Uganda gain from Global Gateway?”

This is the third edition, the Forum presents a hybrid event of exclusive business meetings in Uganda.

Speaking with press, European Union Ambassador to Uganda, Jan Sadek, noted that the forum is designed to mobilise investments into the country and strengthen Ugandan exports, contributing to the partnership between Uganda and the EU.

“There is a lot that Uganda can gain from the Global Gateway, which is the EU’s investment strategy aimed at leveraging investments for large scale initiatives in sectors that are key for sustainable and inclusive growth in partner countries” Ambassador Sadek said.

Adding that, through the Global Gateway, the EU is able to pool resources from our Member States and European financial institutions to narrow investment gaps while promoting competitiveness and security of supply chains

President Yoweri Kaguta Museveni has been confirmed as the Chief Guest at the Forum and will be joined by the EU Deputy Director General for International Partnerships Ms Myriam Ferran.

The Uganda-EU Business Forum is organised by the EU Delegation to Uganda together with its Member States, in partnership with the Government of Uganda, the Private Sector Foundation Uganda (PSFU) and the Uganda Investment Authority (UIA), under the Sustainable Business for Uganda (SB4U) Team Europe Initiative.