Uganda In Joint Business Forum With Congo

Posted by: lukwago J in Business November 5, 2019

Uganda is set to hold the first ever joint business Forum with DR Congo on 9th November at Speke Resort Munyonyo.

Permanent Secretary ministry of foreign Affairs Ambassador Patrick Mugoya says the joint business Forum will provide platform for Uganda to highlight trade opportunities and mutual benefits of two countries in doing business partnerships.

“the republic of Uganda and democratic Republic of Congo enjoy excellent bilateral relations. The two neighbouring countries have strong bonds of friendship that have been cemented through existing cooperation frameworks,” Mugoya said.

The event organised by ministry of foreign affairs in collaboration with ministry of trade will be held under the theme:promote bilateral trade, investment and connectivity for mutual peace and prosperity

Investment state minister Evelyn Anita noted that the joint business Forum will give Uganda Business community opportunity to trade and access big market since Congo has 87.7million population.

“we are excited and prepared to receive our business sisters and brothers for long term business partnership with Congo. We look forward to more business ties for market access and trade,” Anita said.

Sam Kutesa Foreign Affairs Minister says government is committed to strengthening long term business relations with DR. Congo and lessen taxes and non tariff barriers to ease work of business communication.

” Government should facilitate businesses that frustrate them. Promote them and get more taxes. Do infrastructure and reduces taxes to ease businesses. This should be paradigm shift to talk commercial diplomacy, “Kutesa said.

D R Congo is one of the key export markets for Uganda exports. Total exports fir 2018 stood at USD 533 with formal trade standing at US 221 while informal trade standing at USD312.

Ugandas export figures to the DRC show that the value of informal exports is greater than the value of formal export trade.

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