The government of Uganda has committed to strengthening bilateral trade relations with South Sudan to break trade and economic barriers between the two East African Community member states.
This is after South Sudan asked Uganda and other parts of the globe to desist from turning their nation into a dumping ground for expired, counterfeit, and substandard goods.
Uganda’s commitment was made during the ongoing two-day South Sudan-Uganda Business Summit in Juba, South Sudan.
South Sudan and Uganda are in Juba, South Sudan to hold their first Joint Business Forum with the theme ‘Enhancing Bilateral Trade and Investment through Industrialization and Infrastructure Development.
Speaking during the opening event, Ambassador of Uganda to South Sudan, Brig. Gen. Ronnie Balya stated that the core objectives of the joint business forum are to promote commercial and investment interests, improve the welfare of citizens and further bolster bilateral relations between Uganda and South Sudan.
During the discussions, private and public sector stakeholders from South Sudan and Uganda will engage in open trade discussions as well as find ways to enhance investment opportunities to increase revenue and the already vibrant trade relations between both countries.
“The bilateral trade relations between South Sudan and Uganda have and will continue to create enormous benefits for both countries including employment opportunities, job creation, and larger market access for both agricultural and manufactured products,”.
South Sudan is one of Uganda’s largest trading partners. In 2021, South Sudan and Uganda traded goods worth $389M according to the Bank of Uganda report not considering the large volumes of informal trade that happens across the borders of the two countries.
The South Sudan-Uganda Business Forum is a two-day private sector-driven event where more than 200 delegates are participating and over 30 businesses are exhibiting products from agriculture, and agribusiness products, services such as banking, telecommunications, cosmetics, arts and crafts among others.
There will be information sharing, working sessions, and business-to-business interactions focusing on solutions to challenges faced when conducting business.
In his remarks, the chief executive officer, Private Sector Foundation Uganda (PSFU), Stephen Asiimwe mentioned that as business players, they are in Juba to discuss advocacy, network, explore new opportunities, showcase our products and services, engage, and share experiences, as well as understand the interventions we can implore to strengthen our business ties.
“Therefore, we are partners in this forum to ensure that we promote trade for our products and services. We have been informed that the target sector areas are; trade and commerce, mining sector, tourism sector, textiles, and oil and gas, “he said.
South Sudan is one of Uganda’s major trade partners in the East African Community (EAC). Exports from Uganda to South Sudan have increased at an annualized rate of 46%, from US$17.3 million in 2012 to US$ 357 million in 2020. South Sudan exports goods worth US$ 850 million and imports goods and services worth US$ 1.1 billion.
