In a bid to deepen trade relations and foster new partnerships, Equity Bank Uganda, in collaboration with the Confederation of Indian Industries (CII), today launched the India-Uganda Trade Mission in Kampala. This high-profile two-day event, from 22nd to 23rd October 2024, has drawn entrepreneurs from India alongside Ugandan business leaders to explore bilateral trade opportunities across various critical sectors.
The trade mission, a strategic platform to bolster Uganda’s development agenda, focuses on key industries such as health, information technology, agriculture, energy, roads and transport, tourism, real estate, and defence. Uganda seeks to benefit from India’s renowned expertise in these sectors. The event will host a series of panel discussions, business-to-business (B2B) meetings, industry visits, and networking sessions aimed at facilitating meaningful exchange.
Speaking at the opening ceremony, Equity Bank Uganda’s Managing Director, Anthony Kituuka, expressed his excitement about the trade mission’s potential to strengthen economic cooperation between Uganda and India. He emphasized the importance of fostering new relationships and leveraging the expertise of Indian businesses to accelerate Uganda’s growth.
“Equity Bank is committed to promoting the socio-economic prosperity of the people of Africa, and we are excited to create a platform that facilitates networking, benchmarks business opportunities, and provides valuable market intelligence,” Kituuka said. “These are essential elements for driving growth and success in Uganda and the East African region.”
He further highlighted the significance of wealth creation in addressing Africa’s socio-economic challenges: “There is no better force for changing Africa than the business community. These are the people who organise our resources, take risks to deliver products and services to consumers, and in the process, create wealth, which is the real cure for African challenges.”
Kituuka also noted that the trade mission aligns with Equity Group’s broader `Africa Resilience and Recovery Plan’ (ARRP), which targets key sectors such as agriculture, extractives, manufacturing, and logistics to foster economic recovery and growth. The ARRP initiative has allocated $65 billion to support private sector development across East Africa.
Indian High Commissioner to Uganda, Upender Singh Rawat, underscored the importance of the event in cementing trade ties between the two nations.
“The India-Uganda Trade Mission represents a tremendous opportunity for both countries,” said Rawat. “By harnessing our combined strengths, we are opening new avenues for trade and investment that will create lasting economic impact.”
India remains one of Uganda’s top trading partners, with the potential for further collaboration across multiple industries. The trade mission offers a timely opportunity for Ugandan businesses to expand into Indian markets while providing Indian investors access to Uganda’s growing sectors.
Participants at the mission are expected to engage in discussions that will drive technological innovations, investment flows, and sustainable development. As Ugandan businesses seek to tap into Indian expertise, the mission is poised to open up new avenues for trade cooperation, investments, and business opportunities that will propel Uganda’s economic development forward.
With its emphasis on business collaboration, technological exchange, and sustainable development, the India-Uganda Trade Mission marks a significant milestone in the long-standing partnership between the two countries.
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