East African Gazette
Munyonyo
The Uganda-European Union (EU) Business Forum is set to be graced by the President of Uganda, Gen. (Rtd) Yoweri Kaguta Museveni, his Principal Private Secretary (PPS) President, Dr. Kenneth Omona has confirmed.
Taking place from March 5-7, 2024 at the Speke Resort, Munyonyo, the event will be officiated by President Museveni himself.
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In preparation for the President’s participation, the EU Ambassador to Uganda, Jan Sadek, visited the Omona, to discuss the forum’s scope and the necessary arrangements. Accompanying Sadek were his Deputy, Guillaume Chartrain, and the EU’s Head of Cooperation, Caroline Adriaensen.
The meeting was also attended by Dr. Christine Charity Mwebesa, the Special Presidential Assistant for Economic Affairs and Fred Moses Mukhooli, Head of the Foreign and Diplomatic Affairs Unit, State House.
The forum is jointly organized by the EU Delegation to Uganda, the Private Sector Foundation Uganda (PSFU), the Uganda Investment Authority, the Ministry of Finance, Planning and Economic Development, and the Ministry of Foreign Affairs.
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Omona assured the delegation that President Museveni highly values the EU as Uganda’s key trade and investment partner, underscoring his dedication to attracting investments and promoting Uganda’s exports.
With a positive outlook, he anticipated that the forum would effectively showcase Uganda and shed light on the various business prospects available with the EU.
According to the available statistics, Uganda now exports more than it imports for the EU.
Recently, Sadek revealed that of the €1.5 billion worth of trade between the two countries, Uganda realized €800 million (Shs3.3 trillion), while the EU earned €700 million (Shs2.9 trillion).
Uganda primarily exports agricultural products such as coffee, fruits, vegetables, flowers, fish, and fish products to the European market. Conversely, the EU exports to Uganda are mainly from industries like construction, energy, and tourism.
“We have quite an impressive trade turnover already, it is about 1.5 billion Euros. What is very important is that this trade is quite balanced,” said he noted
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Omona also made a commitment to regularly engage in consultative meetings with the European Delegation to Uganda, aiming to strengthen the bilateral relations between the two entities.
Humphrey Nzeyi, the chairman of the Private Sector Foundation Uganda, highlights that the recent achievement can be attributed to the rise in Foreign Direct Investment from the EU and a surge in the demand for Ugandan goods.