UFZA participated in the Uganda – South Africa trade, tourism and investment summit on 28th February 2023.
The meeting was graced by the President of Uganda His Excellency Kaguta Yoweri Museveni who was hosted by his counterpart of South Africa, His Excellency President Cyril Ramaphosa in South Africa together with representation from their respective cabinets.
His Excellency Yoweri Kaguta capitalized on the visit to call for better economic ties between Uganda and Africa´s most developed economy. He emphasized the importance of intracontinental trade, while highlighting some of the challenges that were making this difficult to achieve.
He said it is important for the continent to be peaceful in order for intracontinental trade to be successful. “This will be a free trade area only if it is peaceful. But now the whole place is in chaos,” he said.
H.E Ramaphosa said South Africa sees Uganda as an important partner in East Africa and lauded its contribution to “regional economic and political integration as well as regional peace and stability. As a continent we need to continue to work towards the peaceful resolution of conflict and emphasize dialogue over military confrontation. South Africa remains deeply concerned about recent developments in the eastern Democratic Republic of the Congo. We strongly condemn the upsurge of conflict, being fueled by armed groups.”
South Africa and Ugandan ministers signed bilateral and economic agreements in various sectors including tourism, trade, transport and agriculture.
Uganda is South Africa’s 15th largest trading partner in Africa and the second largest in East Africa, according to South African government figures. Between 2017 and 2021 total trade between the two countries reached a peak of $162 million. South Africa´s exports to the Republic of Uganda amounted to $169 million in 2018, while its imports from Uganda increased from $6.8 million in 2017 to $17.5 million in 2020.