Uganda and Tanzania are poised to enhance their economic collaboration with the upcoming 2nd Uganda-Tanzania Business Forum. Scheduled for May 23rd – 24th, 2024, at the Johari Rotana Hotel in Dar es Salaam, this event aims to further bolster bilateral trade and investment, building upon the success of the inaugural forum held in 2019.
Ambassador Elly Kafeero Kamahungye, Director of Regional and International Economic Affairs, highlighted the forum’s significance in attracting Foreign Direct Investment (FDI) and expanding market access for Ugandan products in Tanzania and neighboring countries. With a focus on priority sectors such as agro-business, tourism promotion, minerals, and innovation, both governments are committed to fostering sustainable and inclusive growth.
Ms. Laura Kahuga, representing the Ugandan High Commission in Dar es Salaam, emphasized the longstanding friendship between the two nations and the potential for mutual prosperity through collaboration. The forum seeks to capitalize on opportunities across various sectors, including agribusiness, manufacturing, tourism, and energy, paving the way for dynamic partnerships and economic growth.
Mr. Martin Muhangi, Director of Investment Promotion at Uganda Investment Authority, highlighted the forum’s role in promoting key sectors and attracting investment from Tanzania. With over 12 projects worth USD 474 million in the past five years, there is significant potential to create jobs and drive economic development.
Hon. John Mulimba, Minister of State for Foreign Affairs, underscored the importance of strengthening bilateral relations, noting Tanzania’s strategic partnership with Uganda in trade, security, education, agriculture, and energy. The forum presents an opportunity for the private sector to advance economic interests and address challenges while fostering greater collaboration between the two nations.
As preparations for the forum continue, stakeholders are optimistic about the transformative impact it will have on regional trade and business. With a focus on enhancing win-win partnerships, the event promises to usher in a new era of economic cooperation and prosperity for Uganda and Tanzania.
