Uganda is set to host a delegation of at least 22 top companies from the United Arab Emirates next week at a Trade & Investment forum on November 28th at the Sheraton Hotel Kampala.
Ugandan businesses will have the opportunity to interact with the UAE delegation as they seek to form synergies with the Ugandan counterparts on the backdrop of the growing business between the two countries.
OliveKigongo, the President ofthe Uganda chamber noted the Uganda – UAE Trade & Investment Forum presents many Ugandan businesses with the opportunity to introduce themselves to the UAE market.
She said, “According to a compilation by Bank of Uganda, exports to the United Arab Emirates reached $528.3 million for the six months between April and September 2019. This makes the UAE one of the top destinations for Uganda’s exports; including gold and fresh organic foods. However, there are many other untapped areas Ugandan businesses can exploit in this $184 billion market.”
The Sharjah Chamber of Commerce & Industry and Uganda chamber of commerce and Industry are organizing the forum to help businesses in the two countries find their product fit and encourage more investment and trade.
“Our hope is that this forum presents the businesses participating key strategies on how to leverage the untapped market. We need to aggressively take advantage of this if we are to provide opportunities for Ugandan and UAE businesses.’ H.E abdallah sultan Alowaissaid.
The highlight of the two-day discussions will be a series of business-to-business (B2B) sessions where locals can interface with members of the delegation to seek synergies in various potential enterprises.The Uganda government has alreadyproposed plans to construct an agricultural free zone area to process fresh produce exports, targeting mainly the UAE market.
His Excellency Abdullah Sultan Al Owais, the Chairman Sharjah Chamber of Commerce & Industry said there are plenty of mutual benefits for both the UAE and Uganda. He said, “The UAE is well-positioned as an international trade hub. The overall goal of the forum is to strengthen economic relations between the two countries, but also showcase in particular what the Emirate of Sharjah can offer and contribute towards increasing trade and establishing promising investment partnerships.”
Sharjah accounts for nearly one-third of the UAE’s entire manufacturing sector, which alone accounts for almost 16% of the Gulf states GDP.Some of the UAE companies set to participate in the forum include; Alpha International Household Industries Llc, EMAAR International, Faan Al Ibdaa Perfumes and Cosmetics, Etihad Credit Insurance, Sharjah Expo Center, and ALNAHLA Trading (Speedy) among others.
Olive Kigongo (pictured), President of the Uganda Chamber of Commerce and Industry said, “In 2018, UAE investors brought in $55 million, making them Uganda’s fourth largest investors after the Chinese, Lebanese and Indians. This forum will provide business people from both sides a platform to discuss ways to diverse investments across a wider field and take advantage of Uganda’s relative political stability and various incentives” His Excellency Abdullah Sultan Al Owais said.
The forum is organised by Sharjah Chamber of Commerce & Industry.