First ever Uganda-Burundi Business Forum held in Bujumbura

Uganda and Burundi have held their first-ever business forum as one of the ways to bolster relations between the two countries but also encourage trade.

The Minister of Lands, Housing, and Urban Development, Judith Nabakooba represented the Ugandan Minister for Trade, Francis Mwebesa.

Nabakooba said for many years, Uganda and Burundi have been engaged in trade amongst themselves but noted this was done at an informal setup.

“It has been mostly done by individuals or firms who on their own, identified markets for their businesses or sources of the goods and services in each other’s countries. Business between Uganda and Burundi has been oscillating over the years. Sometimes it registers significant growth and at other times registers decline, depending on the prevailing situation in the two countries and the region,” Nabakooba noted.

Minister Nabakooba explained that in 2009, Uganda exported goods worth $82 million and this grew to $92million in 2012 whereas imports from Burundi grew from $0.8 million to $2.8 million between 2009 and 2012 and by 2021, Uganda’s exports were at $50 million from $37.03 million in 2019.

The Minister however noted that despite these individual efforts coupled with several bottlenecks, trade between Uganda and Burundi has continued.

“This means that if deliberate actions and efforts are made by both governments, then the business could thrive much more. I am glad that there is the visible presence of several business firms from both Uganda and Burundi in each other’s markets,” Nabakooba said.

She insisted that the potential for business between Uganda and Burundi is very big with both countries being potential markets and sources of goods for each other and export to the rest of the world.

“Both Burundi and Uganda share borders with the Democratic Republic of Congo, which itself is a very big market. Please take full advantage of the benefits of the recent developments in DR Congo as it joins the East African Community,” Nabakooba noted.

“Besides trade, I implore you to focus on investments in agro-processing, consumer goods, steel, and cement for the construction of both houses and infrastructural development. Both countries still a deficit in housing and infrastructural development.”

She said both governments of Burundi and Uganda are fully committed to assisting the private sector to grow business partnerships between the two countries to help ease, identify and resolve challenges of trade through a comprehensive agreement under the Joint Permanent Commission (JPC).

“There is strong goodwill from the leadership in both countries to grow trade and investment relations, and governments will do their best to support you by creating an enabling business environment as well as address infrastructural and bureaucratic challenges still hindering development.”

Minister Nabakooba noted this is coupled with other prevailing factors like direct flights from Entebbe to Bujumbura as good incentives for business between the two countries.