UAE Trade Forum Kicks Off in Kampala Amid $2.8B Surge

Uganda and the UAE kicked off their fourth annual business forum in Kampala, aiming to boost a $2.8 billion trade relationship dominated by Ugandan gold. Foreign direct investment from the Gulf nation has surged tenfold, fueling growth in sectors like agribusiness and renewable energy.

KAMPALA, Uganda — Amid a surge in bilateral trade that has eclipsed the $2.85 billion mark, Uganda and the United Arab Emirates convened their fourth annual business forum yesterday, Oct. 27, in Kampala.

The three-day event, themed “Unlocking Opportunities, Building Bridges through Trade and Investment,” is taking place at Speke Resort Munyonyo. It aims to bolster partnerships in investment, tourism, innovation and exports.

The forum highlights a rapid economic convergence where the UAE has surpassed traditional East African partners, like Kenya and Tanzania, to become Uganda’s largest export market. This trade is dominated by gold shipments, accounting for more than $1 billion annually.

“This growth underscores the UAE’s role as a gateway for Ugandan goods to global markets,” Zaake Wanume Kibedi, Uganda’s ambassador to the UAE, said in a recent statement.

Foreign direct investment from the Gulf nation has seen a tenfold increase, reaching $3.5 billion in 2024. This capital injection has fueled diverse sectors, from agribusiness to renewable energy.

The forum, organized by the Uganda Investment Authority and the UAE Embassy in Kampala, features high-level government officials and business leaders discussing policy reforms, supply chain integration and sustainable development.

Ms. Katarikawe Opus Brenda, director of markets at the Presidential Advisory Committee on Exports and Industrial Development, is scheduled to address attendees on “Enhancing Trade and Investment Relations between the UAE and Uganda.” The event also includes networking roundtables, investment pitches and a trade exhibition.

With six weekly flights between the nations via Emirates and Flydubai, the event seeks to accelerate momentum built since diplomatic relations began in 1971.