Uganda and Somalia will hold a two-day (August-9-10) joint investment summit aimed at promoting Kampala-Mogadishu partnership through investment, trade and tourism.
The event, which will be held at Speke Resort Munyonyo, will provide a platform for the private sector to discuss with the respective government agencies how the cost-of-doing business can be eased.
President Museveni and his Somali counterpart, Hassan Sheikh Mohamud, will address the summit, according to an official statement.
Uganda’s Ambassador to Somalia Prof. Sam Tulya-Muhika said that the Uganda-Somalia Investment and Business Summit will strengthen bilateral cooperation in trade and investment between the two fraternal countries and support potential investors.
Uganda, which was the first country to deploy troops to Somalia and remains the leading Troop Contributing Country (TCC) to AMISOM (African Union Mission in Somalia) -- is now proactively engaging in Commercial diplomacy to exploit the prevailing Somalia/Uganda bilateral trade.
The Summit, according to the statement, will facilitate open trade discussions, as well as B2B sessions to explore investment opportunities that will enable both countries increase revenue and exploit the gains achieved by UPDF/ATMIS.
On Sunday, the two nations held the inaugural session of the joint permanent commission, which aimed at concluding the three Memoranda of Understanding in diplomatic and political consultations, defence and trade.
Uganda and Somalia signed a Framework Agreement on November 19, 2016, in Kampala. The Agreement identified specific areas of cooperation within the Political Sector, the Economic Sector
and the Social Sector.