Share this article

The Uganda-Czech Republic Business Forum was held in Prague, aiming to boost economic ties between the two nations. Led by Phillip Kakuru, Uganda’s delegation explored investment opportunities in key sectors like agriculture, ICT, and tourism.

On October 3-4, representatives from both countries gathered in the Czech capital Prague for the Uganda-Czech Republic Business Forum.

The meeting looked to explore mutual trade and investment opportunities, particularly in key sectors such as agriculture, ICT, and tourism.

Phillip Kakuru, the senior presidential advisor on trade, led the Ugandan delegation that included Amb. Danny Ssozi, Muhammad Bagonza (senior presidential advisor on diaspora affairs) and Susan Muhwezi (senior presidential advisor on AGOA).

Jana Havrdova, the vice-president of the Czech Chamber of Commerce, led the Czech team.

The two-day forum was organized by the Ugandan Embassy in Berlin and the Czech Chamber of Commerce.

It was themed: ‘Strengthening Bilateral Trade and Investment: Harnessing Opportunities for Sustainable Economic Growth.’

During the meeting, Kakuru said the forum would “establish strong economic ties between our two nations as Uganda offers vast opportunities for investment in commercial agriculture, ICT, digital technology, and the creation of innovation hubs for our youth”.

He also said the East African nation also encourages investment in skills transfer, particularly from the Ugandan diaspora in the Czech Republic.

“Uganda provides access to a free market of over 45 million people, with the added reach of 300 million in East Africa, 600 million in the COMESA region, and 1.4 billion across Africa. This creates a substantial demand for goods produced on the continent,” said the delegation head.

‘New market’

On her part, Havrdova expressed her excitement about the growing economic partnership.

“We are really happy to support this meeting. Uganda is a new market for us, and I thank the Ugandan Embassy in Berlin and the Ambassador for their co-operation and for introducing Uganda to Czech businessmen.”

Calling Uganda “a land of opportunities”, Amb. Ssozi said they are “eager to collaborate with Czech investors to unlock this potential”.

At the meeting, Muhwezi promoted Uganda’s tourism and hospitality sectors as ripe for investment.

“Uganda is open and ready for investment in tourism, with its unparalleled natural beauty and strategic location. By investing in Uganda, European investors can access a lucrative market while contributing to the sustainable development of one of Africa’s most promising tourism sectors,” she said.

The forum emphasized the need to enhance trade and investment engagement between Uganda and the Czech Republic.

Participants called for the formulation and signing of memoranda of understanding (MoUs) and the organization of trade missions to further solidify the economic relationship between the two nations.

Czech Republic imports from Uganda stood at $3.25 million (sh12 billion) during 2023, according to the United Nations COMTRADE database on international trade.

Czech Republic’s key imports from Uganda include articles of apparel (both knit and non-knit), machinery, coffee, tea, live trees, fish, animal and vegetable oils, oil seeds, edible fruits, essential oils, and cosmetics.

Additionally, Uganda exports aircraft, chemicals, electronic equipment, plastics, wood products, iron and steel articles, furniture, optical instruments, vehicles, glassware, and ceramics, along with various food preparations, textiles, and printed materials.