Uganda -Tanzania Trade hits a milestone of $2.23 Billion

Trade between Uganda and Tanzania is growing fast. In 2024, the value of trade between the two countries increased to USD 2.23 billion, compared to USD 1.36 billion in 2023. This strong growth shows how the two nations are working closely together to improve their economies.

A Step Toward Unity and Growth

Speaking during the Uganda-Tanzania Trade Mission held in Kampala, Uganda’s State Minister of Trade, Gen. Wilson Mbadi, said the mission is part of a plan to create long-term partnerships for economic success. The event was organized by Uganda’s High Commission in Dar es Salaam and follows the Uganda-Tanzania Business Forum that took place in May 2024.

Gen. Mbadi encouraged business people to make use of the open environment Uganda is creating. He said Uganda is working hard to lower business costs and give better access to markets. This will help build a stronger and more united East Africa.

He also praised big regional projects like the East African Crude Oil Pipeline (EACOP), which is expected to bring in over USD 20 billion, create more than 10,000 jobs, and help many sectors such as energy, transport, and telecom.

High Demand for Goods on Both Sides

Uganda is exporting products like cement, sugar, dairy, and pharmaceuticals to Tanzania, while importing petroleum, machinery, and textiles in return. According to Col. Fred Mwesigye, Uganda’s High Commissioner to Tanzania, this shows how trade between the two countries is benefiting both sides.

He added that the High Commission is helping to improve trade by removing trade barriers, supporting business-to-business (B2B) connections, and promoting investment chances in areas like agriculture and manufacturing.

The trade mission brought together key organizations such as the East African Business Council (EABC) and the Private Sector Foundation Uganda (PSFU).

Ms. Sarah Kagingo, the PSFU vice chairperson, said the mission gives Tanzanian companies a chance to explore business opportunities in Uganda. She mentioned sectors like agro-processing, construction materials, dairy, steel, and fast-moving consumer goods (FMCG) as areas with great potential.

She said the mission builds on the strong history and recent business talks between the two nations, aiming to create deeper trade and investment links for the future.