Uganda pushes trade reforms to drive $500b economy goal

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Trade minister Francis Mwebesa has called for accelerated trade reforms to propel Uganda toward a $500 billion economy by 2040.

“Trade remains central to our country’s transformation agenda and is a critical driver of the Ten-Fold Growth Strategy aimed at expanding Uganda’s economy to $500 billion,” Mwebesa says, while highlighting that export earnings rose from $5 billion in 2020 to over $13 billion in 2025.

The minister made the remarks as the National Trade Sector Review Conference (NTSC) 2026 opened on March 4, 2026, at the Speke Resort Munyonyo in Kampala city.

The two-day conference, convened by the ministry in partnership with TradeMark Africa and UK International Development, brings together government leaders, private sector actors, development partners and regional institutions to review Uganda’s trade performance and identify reforms to boost competitiveness in regional and global markets.

Strengthening co-ordination and accountability

Ministry permanent secretary Lynette Bagonza said the conference provides a platform to align institutions, reflect on progress and address remaining challenges.

“This is not just a technical exercise; it is about accounting to Ugandans and tackling the hurdles that slow our trade growth,” Bagonza said.

Mwebesa (Fourth Right) with guests and participants during the National Trade Sector Review Conference (NTSC) 2026 at the Speke Resort, Munyonyo, Kampala. (Courtesy photos)

British High Commissioner to Uganda Lisa Chesney underscored the importance of partnerships in strengthening trade systems and enabling economic transformation.

“Let us focus on the last mile of trade policy implementation, ensuring that reforms translate into real opportunities for businesses, exporters, and entrepreneurs,” Chesney said.

Trade facilitation unlocks regional markets

TradeMark Africa Uganda country director Anna Nambooze said reforms like One-Stop Border Posts and the Uganda Electronic Single Window have reduced border crossing times by nearly 70% and cut export approval timelines by over 30%, saving the private sector more than $25 million annually.

Private sector calls for infrastructure upgrades

Victoria Sekitoleko, the chairperson of the Uganda Agri Business Alliance, cited challenges such as power outages, poor roads, and delays at border crossings.

“Some traders spend two months at Elegu border trying to reach South Sudan. Many factories operate at night due to power fluctuations,” Sekitoleko said.

Manish Kara, CEO of Tembo Steels, urged the Government to invest in infrastructure and update policies to ease doing business.

Discussions will focus on export competitiveness, regional integration, services trade expansion, trade facilitation, and digital trade systems. The outcomes will guide policy reforms to accelerate Uganda’s path toward a $500 billion economy by 2040.