Harnessing Trade and Business Opportunities between Uganda and United Kingdom
The Permanent Secretary and Secretary to the Treasury, Ramathan Ggoobi delivered a keynote address at the Uganda-United Kingdom (UK) Trade and Business Forum at Sheraton hotel, Kampala.
Ggoobi said the resilient currency, stable macro-economic environment, fully liberalized economy with 100% profit repatriation, rich biodiversity as well as the good climate, abundant food, skilled labour and high growth rates makes Uganda a standout destination for investment and tourism.
He noted that Uganda's long-standing partnership with UK
has significantly supported Uganda's growth, adding that UK as the leading source of foreign direct investment has injected over USD 1.3 billion into Uganda between 2020 and 2024.
Ggoobi said Uganda's growth fuels demand for intermediate goods and services, aligning with the UK's advanced services sector which drives over 50% of its exports.
He also noted that the economy is on track to achieve growth of 6.4% by end of FY 2024/25, adding that Uganda's export portfolio has diversified over the last 15 years, adding 31 new products like ceramics and light manufactured goods.
Ggoobi expressed optimism that the upcoming Uganda Airlines direct route to London effective May 18,2025 will ease logistical barriers and boost trade, tourism and investment.
"I invite UK investors to explore these opportunities and partner with our local entrepreneurs who bring invaluable market insight," said the PSST, adding that the business community, investors should leverage opportunities created by expansion of Uganda Airlines to support the 10-fold growth agenda of expanding Uganda’s economy to USD 500 billion by 2040.
The Minister of State for Transport Fred Byamukama who officiated at the Business Forum said the direct connection to London Gatwick will bridge the two countries and strengthen the bilateral relations, trade and tourism, adding that this route reflects the commitment to opposition Uganda as a regional hub and global player.
Earlier, the British High Commissioner to Uganda, Lisa Chesney said the direct flight to London will streamline cargo transport and make it easier to transport Ugandan fresh products like fish, fruits and vegetables in a timely manner.
She said this is also a perfect opportunity to promote investments, trade and tourism between Uganda and the United Kingdom.
On her part, the Chief Executive Officer Uganda Airlines, Jenifer Bamuturaki said the London route is of great strategic importance to Uganda, adding that UK remains a key market for Ugandan products and a source for tourists.
