Uganda has challenged businesses and government agencies to turn the outcomes of its two-day business forum with Nigeria into actual trade deals, investments and partnerships, saying the success of the engagement should be measured by what follows the talks.
Hon. Haruna Kasolo Kyeyune, Minister of State for Foreign Affairs in charge of Regional Cooperation, said the government and private sector must immediately implement the resolutions reached during the Uganda-Nigeria Business Forum and Exhibition.
“Talking is good, but after talking, do you have something in your pocket?” Kyeyune said at the close of the two-day engagement.
He said the forum should result in concrete business deals, partnerships, investments, joint ventures, shipments of goods and services and access to new markets.
“The success of the two-day engagement should be measured not by speeches or participation, but by business deals, partnerships, investments, joint ventures, shipments of goods and services, and new market opportunities,” he said.
Kyeyune urged Ugandan businesses to look beyond the domestic market and use the African Continental Free Trade Area (AfCFTA) to expand production, create jobs, add value and access wider African markets.
He also called on businesses to work with Uganda’s diplomatic missions by providing quality products and marketing materials that can be used to promote the country’s commercial interests abroad.
Kyeyune said government institutions, private-sector players and diplomatic missions must take ownership of the forum’s resolutions and ensure effective follow-up, including through the Uganda-Nigeria Joint Permanent Commission.
The call came as Ugandan and Nigerian businesses explored opportunities in sectors including pharmaceuticals, agriculture, manufacturing, construction, food processing, cement, mining, infrastructure, tourism and technology.
The Investment and Business Showcase also presented Uganda’s free zones as potential platforms for Nigerian investors to establish production and export bases, supported by incentives including tax and duty exemptions.
Mr. Kenneth Kisambira, CEO of UBA Group, said Africa’s economic future depends on stronger partnerships, market access and the ability to convert opportunities into actual trade.
He called on Uganda and Nigeria to use their complementary strengths under the AfCFTA to move from commodities to value chains, reduce payment and trade barriers, scale African enterprises and invest in skills.
Kisambira said bilateral agreements should ultimately translate into measurable business activity, jobs and investment.
The forum also identified the need to connect credible businesses, harmonise standards and reduce regulatory and trade barriers to strengthen commercial links between the two countries.
Kyeyune said the connections made during the forum should now be turned into contracts, investments, partnerships, increased trade and stronger economic integration between Uganda and Nigeria.
