Reinforcing economic relations between Uganda and Germany
The first Uganda-Germany International Business ConventionOctober 04th, 2019
The Convention was organized by the Uganda-German Association in Munich (UGAM e.V) in partnership with the Ugandan Embassy in Berlin and took place in Munich on September 21st 2019 and discussed the theme “Uganda in the Globalized Market”.
In an expanding global economy, it is vitally important to intensify business relations between countries. The aim of the promoters of the conference is to progress relations between German and Ugandan entrepreneurs.
The Conference was strongly supported by H.E. Ambassador of Uganda Marcel R. Tibaleka, as well as receiving support from the Rt. Hon. Jacob Oulanyah (MP), Deputy Speaker of Parliament of Uganda and participation and speeches from guests from government ministries, departments, and agencies. Among the audience were business owners, entrepreneurs, start-ups and investors interested in the new sectors open for investment.
One of the main purposes of the conference was to promote commercial and economic diplomacy in association with the Ugandan economy and the sectors that are open for investment in Uganda. The attention was drawn to the endorsement of Uganda's 2040 development plan with the main aim being the promotion of the Ugandan diaspora in Germany the contribution to a developing Uganda. The German technological capacities could be very beneficial for; agricultural business development, pharmaceuticals, oil industry, service industry, solar energy and manufacturing in Uganda. The Ambassador suggested that it is crucial to encourage the connection between the two countries, especially in trade advancement, promotion of Foreign Direct Investment, science and technology cooperation and the promotion of tourism.
Germany and Uganda have a strong history of positive bilateral relations, in fact, Germany is one of Uganda’s most important trading partners among the members of the European Union.
The governments of both countries are planning to reinforce political, economic and cultural relations. This convention is a perfect example of the promotion of economic diplomacy. Through bilateral economic agreements, both countries can benefit from these opportunities.