Uganda-South Sudan Business Forum kicks off in Juba with investment and industrialization top of list
The Republic of South Sudan and the Republic of Uganda are organizing their first ever Joint Business Forum under the theme “Enhancing Bilateral Trade and Investment through Industrialization and Infrastructure Development”.
The business forum and exhibition will be held for two days, July 19-20, 2022 at Beijing Hotel, Juba.
Speaking at the opening of the event, Uganda’s Ambassador to the Republic of South Sudan, HE Brig. General Ronnie Balya said the main objectives of the Joint Business Forum are to promote trade and investment interests, improve the welfare of citizens and further strengthen bilateral relations between Uganda and South Sudan. South.
In his remarks, the Managing Director of Private Sector Foundation Uganda (PSFU), Mr. Stephen Asiimwe, mentioned that as business actors, they are in Juba to discuss advocacy, network, explore new opportunities, present products and services, but also to engage, and share experiences, as well as understand the interventions which can be implored to strengthen business ties.
“Therefore, we are partners in this forum to ensure that we promote trade in our products and services,” he said.
He added that we have been informed that the targeted sectors are; trade and commerce, mining sector, tourism sector, textiles, oil and gas.
South Sudan’s Ambassador to Uganda, Simon Duku Michael noted that Uganda and South Sudan have strong ties and vibrant historical relations.
He said the geopolitical significance of the business summit is absolute and is a channel to help improve trade relations and increase the trade ratings of the two countries.
In an interview with the UNDP Resident Representative in Uganda, Ms. Elsie Attafuah, she said that the AfCFTA is more than an instrument of trade liberalization.
It is a catalyst for inclusive growth and sustainable development. It has enormous potential to have a positive impact on poverty, inequality, vulnerability, unemployment, slow economic growth and structural weaknesses in the private sector.
The South Sudan-Uganda Business Forum is a two-day private sector-focused event with over 200 delegates attending and over 30 companies exhibiting 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 focused on solutions to challenges faced in doing business.
South Sudan is one of Uganda’s major trading partners within the East African Community (EAC). Uganda’s exports to South Sudan have grown 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.
South Sudan’s main imports are motor cars and other motor vehicles; mainly designed for the transport of people (US$78.5 million), Vehicles; for the transport of goods (US$52.3 million), Food preparations not elsewhere specified or included (US$45.9 million), Grain sorghum (US$38.7 million) and Cane or beet sugar and sucrose chemically pure, in solid form (US$35.9m), importing mainly from Uganda (US$357m), Kenya (US$216m), United Arab Emirates (US$192m), China ($156 million) and the United States ($38.9 million).