High hopes as 2nd Uganda-Tanzania business forum is launched

The 2nd edition of the Uganda-Tanzania business forum has been launched at Kampala Serena Hotel amidst high hopes it would harmonise industrial policies, resolve existing non-tariff barriers and ink joint venture partnerships between the two neighbouring countries.

The forum is set to take place from May 23 to 24, 2024 at Johari Rotana Hotel in Tanzania’s coastal city of Dar es Salaam under the theme, “Enhancing our win-win bilateral partnership”.

It is being organised by the Uganda High Commission in Dar es Salaam.

John Mulimba, Uganda's minister of state for regional affairs, said they believe the 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.

“The theme has been coined in light of already concluded and ongoing partnerships between our two countries, both in the public and private sectors,” he said at the launch.

Mulimba also said the East African Crude Oil Pipeline (EACOP) project will generate $20b 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.

“This will immensely transform the national, regional and global trade and business landscape. The regular holding of Joint Permanent Commission 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 added.

Maj. Gen. Paul Kisesa Simuli, the High Commissioner of Tanzania to Uganda, said his country is pleased to host and welcome its neighbour’s public and private sector at the upcoming forum.

“This forum is of great importance as it aims to foster greater economic collaboration between our two nations,” he said.

Simuli also noted that Uganda and Tanzania share a special bond and it is imperative that they strengthen this relationship through increased business partnerships.

“The forum will serve as a platform to encourage the private sector to explore and invest in the numerous opportunities available in Tanzania,” he added.

Sarah Kagingo, the vice chairperson of the Private Sector Foundation Uganda said holding the forum in a two-in-one format comprising a trade exhibition on one hand and an investment forum on the other will enable both countries to showcase and demonstrate their manufacturing and trade capacity while highlighting their comparative advantage to promote and attract prospective investments in joint projects.

“We look forward to the forum in Dar es Salaam, and to the opportunity for business-to-business, business-to-government engagements. We hope to harmonise industrial policies, resolve existing non-tariff barriers, and to ink joint venture partnerships to enable more business and trade with our Tanzanian counterparts,” she added.