Friday, May 24News That Matters

Somalia President Hassan to visit Uganda.

The President of Somalia Hassan Shiekh Mohamud is set to visit Uganda in his first trip since he assumed office in May this year.
He will be in the country next week Monday for a two day working visit with his counterpart President Yoweri Museveni.
The two heads of state will preside over a joint investment and business summit that will run from August 9 to 10 at Speke Resort Munyonyo in Kampala.
The summit will be held under the theme promoting Uganda and Somalia partnership through Investment and Tourism.
Authorities said that this summit will provide a platform for private sector/business community together with other relevant stakeholders like government ministries to freely exchange views and ideas on how to reduce cost of doing business
Addressing the press in Kampala, Uganda’s ambassador to Somalia H.E Prof. Sam Turya-Muhika emphasized that Uganda-Somalia investment and business summit will strengthen bilateral cooperation in trade and investment between the two countries.
“Uganda which was the first country to deploy troops in Somalia and remains the leading troop contributing country to ATMIS is now proactively engaging in commercial diplomacy to exploit the prevailing Somalia-Uganda bilateral trade opportunities,” the Ambassador said.
It is said that during the summit, private and public sector stakeholders from Somalia and Uganda will engage in open trade discussions as well as B2B sessions to explore investment opportunities. between the two countries.
Such will enable both countries increase revenue and exploit the gains achieved by the UPDF/ATMIS.
Reports indicate that in 2020, Uganda exported goods worth $676,000 to Somalia while Somalia exported goods worth $75,700 to Uganda.
The main products that Uganda exports to Somalia are aircraft parts, rolled tobacco and beer. While there are other good and services which has market in Somalia such as milk, sugar, edible vegetables, ICT and environmental services.

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