By Felix Oketcho
In ahistoric event held to increase Uganda’s exports to United States of America, Presidential Advisory Committee on Exports and Industrial Development (PACEID) held the inaugural Pan African Congress Business Forum and Expo (PACBFE) under the theme, “A Diaspora Homecoming: Navigating the Next 100 Years” in Kampala registering $1billion deal.
Officiating at the event core organized by PACEID and Africa Global Chamber of Commerce (AGCC), the private sector in Uganda and the United States, Odrek Rwabwogo Chairman of PACEID and Senior Presidential Advisor on exports said the event aimed to enhance Uganda’s exports to the United States.
“The event borrows from the historical Pan-African congresses to make a business case for Africa’s diaspora as the most pivotal economic growth agents over the next century. It further aims to leverage cross-Atlantic regulatory frameworks to strengthen engagements with multinational corporations and deepen partnerships with the African-American diaspora,”Rwabogo said.
On July 1, 2007, President Yoweri Kaguta Museveni said, “There is tremendous potential in Africa and continent of the future. Just like India and China have become superpowers, in the next 25 years a lot of changes will have taken place.”
The event was attended by business and government leaders from the East African region, plus the leading multinational agencies, financial institutions, experts in manufacturing, tourism, exports and trade from the rest of Africa.
The event provided a platform for networking, collaboration, and knowledge sharing.
It also focused on identifying products and services in demand across US markets and exploring opportunities for sales and distribution.
PACEID was tasked with increasing Uganda’s export earnings by $6billion (sh22 trillion) by 2028.
PACEID Chairman Odrek Rwabwogo reiterated the significance of accessing the US market for Uganda, citing it as the largest consumer market globally with a staggering $18 trillion economy.
He emphasized the need to strengthen Uganda’s trade relations with the US, which in turn would help elevate Africa’s trade ties with the United States.
“This event will not only showcase the potential of Uganda’s exports to the United States but also facilitate discussions on how to further strengthen trade relations between the two countries. This is a platform where political, civil, and aid society leaders will converge to explore collaborative opportunities. Further, it will serve as a pivotal moment for Uganda’s global positioning, aimed at showcasing the country’s potential and capabilities to the world,” notes PACEID Chairman Odrek Rwabwogo.
“Besides being a crucial step in strengthening Uganda’s ties across various sectors and supporting its efforts to re-enter the African Growth and Opportunity Act (AGOA) program, the event presents a unique opportunity for Ugandan businesses to discover connection points with the African diaspora in America and African Americans to develop commercial and strategic export partnerships,”Odrek stressed.
About one billion deal computing form and coffee deal was signed during the first ever Pan African Congress and Business Forum with potential to increase businesss to $60million per year until 2028
