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Uganda and the United Arab Emirates (UAE) are set to strengthen the business and economic co-operation between the two countries.

Consul General of Uganda in Dubai, UAE, Henry Mayega on Thursday, October 5, 2023, launched the 2nd Uganda and UAE Business Forum. The forum will take place between October 10 and 13 at Speke Resort Munyonyo in Kampala.

Mayega launched the forum at the foreign affairs ministry headquarters in Kampala.

"Uganda and UAE share a long history of collaboration and friendship. We are embarking on a new chapter in our relationship — one that focuses on fostering economic growth and strengthening business ties between our nations,” Mayega said.

The UAE has long been recognised as a global business hub, with its thriving economy, strategic location and commitment to innovation.

Uganda, on the other hand, possesses immense potential for growth, with its abundant natural resources, skilled workforce, and emerging market opportunities.

“By bringing together the business communities of both our countries, this forum aims to facilitate dialogue, promote trade and investment and foster partnerships that will benefit not only our respective economies but also create job opportunities and contribute to the overall development of our nations,” Mayega said.

According to him, through this platform, they encourage entrepreneurs, investors, and companies of all sizes to explore the vast possibilities for collaboration.

“Whether it be in sectors such as agriculture, tourism, infrastructure, or technology, there are abundant opportunities waiting to be seized,” he said.

“Let us leverage our strengths, expertise and resources to pave the way for successful business ventures that will drive economic growth and prosperity in both the UAE and Uganda,” he added.

He stressed the significance of cultural exchange and people-to-people connections. He noted that by engaging in business partnerships, there is the enhancement of economic ties.

There is also promotion of mutual understanding and friendship between the two countries' diverse communities.

He indicated that the Uganda and UAE business forum is a testament to the shared commitment of both nations to expanding economic co-operation.

He called for fruitful discussions, exchange of ideas and forging alliances that will lead to prosperous outcomes for businesses and the two countries.

The United Arab Emirates, or simply the Emirates, is a country in West Asia, in the Middle East. It is located at the eastern end of the Arabian Peninsula.

The county shares borders with Oman and Saudi Arabia, while also having maritime borders in the Persian Gulf with Qatar and Iran.

The economy of the UAE is the 4th largest in the Middle East (after Saudi Arabia, Turkey, and Israel), with a gross domestic product (GDP) of $498 b in 2023. GDP in Uganda is expected to reach $48.29b by the end of 2023, according to Trading Economics global macro models and analysts expectations.