The Presidential Advisory Committee on Exports and Industrial Development (PACEID) is developing strategies to enhance Uganda’s entry into the United States market. This is a crucial step in strengthening Uganda’s ties across various sectors and supporting its efforts to re-enter the African Growth and Opportunity Act (AGOA) programme.
During the launch of the upcoming Pan African Congress Business Forum (PACBF) at Serena on Tuesday, PACEID Chairman Odrek Rwabwogo emphasized that the United States represents the largest market Uganda must capitalize on. “The US has a signal effect we can nurture. Our economic growth is modest, but our population continues to expand. We need to set specific targets for this market, which is why this expo is happening,” Rwabwogo stated.
He further highlighted that this strategy is not exclusive to the US but also aims to tap into other major markets in Asia. “This is not just about the US. We also want to focus on the United Arab Emirates, China, and India. Uganda Airlines should facilitate this by flying Ugandans to the US and bringing tourists back,” he explained. Rwabwogo added that PACEID intends to involve key stakeholders, including traditional leaders, to raise awareness about promoting tourism and Uganda’s export products.
“This event will not only showcase Uganda’s export potential to the US but also foster discussions on strengthening trade relations between the two nations. It will be a pivotal moment for Uganda’s global positioning, highlighting the country’s capabilities on the world stage,” he concluded.
Brenda Katarikawe Opus. Communications and Exports Market Development at PACEID said that they learnt that many people in the US market have no idea about Uganda. “We learnt that people don’t know much about Uganda and this is the kind of activity that put our feet into the markets of the US,” she said
She added that the Pan African Congress Business Forum is expected to boost Uganda’s exports to the United States and it will attract between 20 -50 participants from the US. The Pan African Congress Business Forum (PACBF) is set to take place from October 6th -12th, 2024 at Munyonyo Commonwealth Resort in Kampala. Hosted by PACEID in partnership with the Africa Global Chamber of Commerce (AGCC), private sector in Uganda and the United States, the event aims to enhance Uganda’s exports to the United States.
Organized under the theme, “A Diaspora Homecoming: Navigating the Next 100 Years”, the event borrows from the historical Pan-African congresses to make a business case for Africa’s diaspora as the most pivotal economic growth agents over the next century. The event presents a unique opportunity for Ugandan businesses to discover connection points with the African diaspora in America and African Americans to develop commercial and strategic export partnerships. It further aims to leverage cross-Atlantic regulatory frameworks to strengthen engagements with multinational corporations and deepen partnerships with the African-American diaspora.
On July 1, 2007, President Yoweri Kaguta Museveni said, “There is tremendous potential in Africa. Africa is a continent of the future. Just like India and China have become superpowers, in the next 25 years a lot of changes will have taken place.”
The event will be attended by business and government leaders from the East African region, and other multinational agencies, financial institutions, experts in manufacturing, tourism, exports and trade from the rest of Africa are expected. This will provide a platform for networking, collaboration, and knowledge sharing. The event will focus on identifying products and services in demand across US markets and exploring opportunities for sales and distribution.
The forum and expo will feature panel discussions, workshops, and networking sessions, providing participants with valuable insights and opportunities to connect with key stakeholders in the industry. Attendees can expect to gain a deeper understanding of market trends, consumer preferences, and regulatory requirements in the US market. This is on top of speeches from some of Africa’s most consequential decision-makers in fields like strategic infrastructure, development finance, and regional integration. On the sidelines of the business forum, American participants will also visit what Uganda has to offer in terms of tourism, trade, and investment; UNESCO sites like Kasubi Tombs and the Namugongo Martyrs Shrine, Mweya Safari Lodge, Murchison Falls National Park, Kira Motors factory, Queen Elizabeth National Park, Lake Mburo National Park, Bujjagali Falls and the Source of River Nile among others.
Partnering with the US-based private sector is premised on a reality where Official Development Assistance (ODA) to Africa between 2000 and 2022 exceeded US$ 219 billion, while total cumulative U.S. direct investment abroad (USDIA) into Africa’s fifty-five countries was below USD 47 billion, less than one percent of aggregate U.S. private capital sent throughout the world for the same period.
According to Bank of Uganda imported goods from the US worth $186M in the Calendar year 2023 while it exported goods to the same market worth $74.1M in the same period. Coffee, vanilla, casein, Nile Perch, cocoa beans, and oils are the main products exported to the United States.
Uganda lost under the AGOA due to concerns related to governance, human rights, and economic policy reforms. AGOA provides African countries with preferential access to the U.S. market, but to qualify, nations must meet specific requirements, including the promotion of a market-based economy, protection of political rights, and upholding human rights.
However, Uganda did not lose access outright, these concerns led to warnings from the U.S. government that the country’s eligibility could be jeopardized unless corrective measures were taken. This prompted Uganda to work on addressing these areas to maintain its AGOA benefits.