Elevating Economic Alliances: Concept Note for the East Africa Trade and Investment Forum at the NAM and G77 Summits 2024

Uganda is gearing up to host two significant global summits, the 19th Non-Aligned Movement (NAM) Summit from January 15th to 20th, 2024, and the Third South Summit (G77 Summit) from January 21st to 23rd, 2024. This momentous occasion marks Uganda’s assumption of the Chairmanship of NAM, an international organization of 120 countries not aligned with any major power bloc, making it the third-largest grouping of member states globally, following the United Nations (UN).

The dual summits present a unique opportunity for Uganda to center Trade, Industry, and Investment at the heart of South-South cooperation. With the majority of African countries being members of both NAM and G77, the promotion of intra-group trade sets the stage for unlocking the full potential of the African Continental Free Trade Area (AfCFTA). Uganda is capitalizing on this occasion by organizing a Business Forum and Exhibition alongside the summits to boost trade, tourism, and investment.

The Business Forum aims to create opportunities in trade, tourism, investment, and technology transfer. It seeks to promote investment opportunities in key sectors such as Tourism, Agri-value Addition, Mineral Beneficiation, Oil and Gas, ICT, Infrastructure development, Real Estate, and Services. The forum also endeavors to facilitate Joint Venture Partnerships, affordable financing, technology transfer, and market opportunities. A crucial aspect of the forum is the establishment of a framework of cooperation between Uganda Investment Authority and Chambers of Commerce for originating, coordinating, and signing investment deals.

Anticipated outcomes include the signing of at least 5 investment deals worth USD 100 million in focus areas like Agro-industrialization, Tourism, Manufacturing, Industrial Parks, Energy, Mining, and Oil and Gas. The creation of a compendium of investment leads for sharing with businesspeople within G77 and NAM, signing at least 3 Joint Venture Partnerships between businesses, and the submission of a private sector memorandum with priority recommendations to improve the business environment within G77 and NAM countries.

The Business and Investment Forum are scheduled for January 15th to 18th, 2024, under the theme “Deeper Cooperation in Trade, Tourism, and Investment for Shared Global Affluence.” The venue is the Serena Kampala Hotel-International Conference Center and Serena Gardens.

The NAM and G77 Business Forum will adopt a two-in-one format, combining a Trade Exhibition showcasing manufacturing and trade capacity within NAM & G77 and a Business and Investment Forum leveraging the groupings to promote opportunities.

The Private Sector Foundation Uganda, entrusted by the government, will oversee the organization of the Business & Investment Forum, bringing together stakeholders for a successful event from January 15th to 17th, 2024, in Kampala. This initiative aligns with Uganda’s commitment to fostering economic development, collaboration, and investment opportunities on the global stage.