President Yoweri Museveni is expected to attend the forthcoming Uganda-South Africa business summit to be held in Pretoria from February 27 and March 1.
The event will be the first Trade, Tourism and Investment Summit between Uganda and South Africa.
The President and his South African counterpart, Cyril Ramaphosa, will preside over the summit which is expected to attract over 300 delegates, both private and public including business captains, ministers, heads of agencies, policymakers, the media.
Museveni’s visit is aimed at consolidating bilateral relations between the two countries, according to a statement from the South African presidency.
During the visit, the two leaders are expected to hold discussions on a range of issues and witness the signing of a swath of Memorandum of Understanding (MoU) on Cooperation between certain institutions in both countries.
The Ugandan leader, who last visited South Africa in January 2011, will be accompanied by several Cabinet Ministers and a business delegation who will participate in a Business Forum that would offer the private sector in both countries a platform to explore trade and investment opportunities.
Organised by the Uganda High Commission in Pretoria, the summit will also see officials from the Ministry of Foreign Affairs of Uganda (MOFA), Ministry of Agriculture, Animal Industry and Fisheries (MAAIF), Ministry of Trade, Industry and Cooperatives of Uganda, Ministry of Health (MOH) and Uganda Investment Authority (UIA) attend.
Others are Private Sector Foundation of Uganda (PSFU),
Uganda Manufacturers Association (UMA), Presidential Advisory Committee on Exports and Industrial Development (PACEID)
Uganda Tourism Board (UTB), Uganda National Chamber of Commerce and Industry and Uganda Airlines.
The Summit’s overarching objective is to provide a platform for the private sector, government and business regulatory agencies to freely exchange views, ideas, and information on how to facilitate investment and doing business (including identifying existing and emerging business/investment opportunities for Uganda).
The Summit will focus on the following sectors: Tourism, Trade and Investment, Finance, Insurance, Professional Service, Manufacturing, Mining, Energy Resources, Agro-processing, ICT, Power Generation, education, and Infrastructure development/construction among others.
The Summit will feature plenary and parallel sessions focusing on priority and transformative sectors to promote sustainable, inclusive, balanced, and sustained growth and development of Uganda.
Investment and Trade between Uganda and South Africa
South Africa is one of the fastest-growing sources of Foreign Direct Investment for Uganda.
Uganda’s exports to South Africa include cotton, gold, fish fillets, tobacco, coffee, and fresh flowers. South Africa’s exports to Uganda include machinery, vehicles, plastics, chemicals, electronics, parts and accessories, petroleum, live animals, books and newsprint, textiles, footwear, aircraft, and household goods.
South African investments in Uganda are in sectors like telecommunications, breweries, finance, poultry, energy, and real estate, amongst others.
South Africa has the potential of strengthening investment and trade links with Uganda in several areas including manufacturing, agriculture and agro-processing, touring, mining, information technology, health services, biotechnology, pharmaceuticals, chemicals, etc.
Based on the foregoing, there is a need for Uganda to continuously leverage the existing cordial relations between the two countries and showcase its opportunities to potential investors in South Africa and internationally for improvement of the trade balance and national development through a business summit.