Second Uganda-Tanzania Business Forum Launched in Kampala

The second Uganda-Tanzania Business Forum has been launched at Kampala Serena Hotel under the theme, “Enhancing our win-win bilateral partnership.”

The forum, organised by the Uganda High Commission in Dar es Salaam, will take place from 23rd – 24th May 2024 at Johari Rotana Hotel, Dar es Salaam Tanzania.

Hon. John Mulimba, the Minister of State for Foreign Affairs in charge of Regional Affairs, said Uganda and Tanzania continued to enjoy warm, cordial and fraternal bilateral relations since the early 1960s.

“Our ties are anchored by a shared sense of history in a joint liberation of Uganda by citizens of our two countries. Tanzania is a strategic partner of Uganda in many areas, particularly trade, security, education, agriculture and energy,” he said during the Thursday launch.

According to him, the second edition of the business forum will be a great opportunity for the Private Sector to advance interests, especially economic and commercial ones that may not require legal complexities and procedures, identify challenges they face while conducting business and recommend the way forward.

He said the theme “Enhancing our win-win bilateral partnership” has been coined in light of already concluded and ongoing partnerships between the two countries both in the public and private sectors.

“The East African Crude Oil Pipeline (EACOP) project will generate $20bn of revenue for Uganda and Tanzania, creating over 10,000 jobs and immense opportunities for the private sector in telecommunications, transport, finance and other service sectors.”

According to the Minister, this will immensely transform the national regional and global trade and business landscape.

“The regular holding of Joint Permanent Commission (JPC) sessions, with a Business Forum on the sidelines, in recent years, has created a comprehensive platform for the two countries to address issues affecting our bilateral cooperation in both the public and private sectors,” he noted.

He added: “Holding the Forum in a two-in-one format comprising of Trade Exhibition on one hand and an Investment Forum on the other will enable both Uganda and Tanzania to showcase and demonstrate their manufacturing and trade capacity while highlighting their comparative advantage to promote and attract prospective investments in joint projects.”

Speaking on the same occasion, H.E. Maj. Gen. Paul Kisesa Simuli, the High Commissioner of the United Republic of Tanzania to Uganda, said Tanzania is pleased to host and welcome Uganda’s public and private sector at the upcoming 2nd Uganda-Tanzania Business Forum, scheduled for the 23rd and 24th of May in Dar es Salaam.

 “This forum is of great importance as it aims to foster greater economic collaboration between our two nations,” he noted, adding, “Uganda and Tanzania share a special bond, and it is imperative that we strengthen this relationship through increased business partnerships.”

According to the ambassador, the forum will serve as a platform to encourage the private sector to explore and invest in the numerous opportunities available in Tanzania.

“Tanzania offers a wide array of investment opportunities, particularly in agriculture, mining, fisheries, and small businesses. Our country boasts vast arable land for agriculture, abundant mineral resources in regions like Mwanza and Geita, and rich aquatic resources along its water bodies and shores.”

Additionally, he stated, there are ample opportunities for small businesses to engage in cross-border trade and collaborations.

“I invite all interested parties from both Uganda and Tanzania  to participate in this forum, as it promises to be a significant step towards enhancing economic cooperation and building lasting partnerships between our two nations.”

The first Uganda-Tanzania Business Forum was held under the theme, “Promoting Bilateral Trade & Investment for Growth and Sustainable Development” in 2019.

It is on this basis that the Uganda High Commission is organizing the second edition of the Uganda-Tanzania Business Forum to further enhance economic and commercial ties between the two sisterly countries.