Government, Private Sector Push for Stronger Trade Systems to Achieve $500B Economy Goal

KAMPALA – Uganda has renewed its focus on trade as a central pillar of economic transformation, with experts and policymakers calling for deeper reforms to unlock the country’s ambition of building a $500 billion economy by 2040.

The call was made on Wednesday as the National Trade Sector Review Conference (NTSC) 2026 opened at the luxurious Speke Resort Convention Centre Munyonyo, bringing together government officials, private sector leaders, development partners, and regional trade institutions.

Organised by the Ministry of Trade, Industry and Cooperatives in partnership with TradeMark Africa and UK International Development, the two-day conference is being held under the theme “Trade-Driven Transformation: Propelling Uganda to a $500B Economy by 2040.”

The forum is intended to review the country’s trade performance, assess policy and institutional reforms, and identify practical measures to enhance Uganda’s competitiveness in regional and global markets.

Trade at the Centre of Uganda’s Economic Strategy

Opening the conference, the Minister of Trade, Industry and Cooperatives, Francis Mwebesa, emphasised that trade and industrialisation remain key drivers of Uganda’s development agenda.

“Trade remains central to our country’s transformation agenda and is a critical driver of the Ten-Fold Growth Strategy aimed at expanding Uganda’s economy to USD 500 billion in the medium term,” Mwebesa said.

The minister noted that Uganda’s export performance has significantly improved in recent years. Export earnings have grown from approximately USD 5 billion in 2020 to more than USD 13 billion in 2025, reflecting increasing participation of Ugandan goods and services in regional and global markets.

However, he acknowledged that more work remains to be done to ensure that trade becomes a stronger engine for inclusive economic growth.

Conference Aims to Strengthen Policy Coordination

The Permanent Secretary at the trade ministry, Lynette Bagonza, said the conference provides an opportunity for stakeholders to evaluate the effectiveness of existing trade policies and align efforts across institutions responsible for implementing Uganda’s trade agenda.

“This conference is not simply a technical exercise,” Bagonza said. “It is an opportunity to account to the people of Uganda for the progress we have made and to openly discuss the challenges that remain.”

She added that stronger coordination between government agencies, regulators and the private sector will be critical in delivering meaningful reforms in the trade sector.

Trade Facilitation Reforms Showing Results

The Country Director of TradeMark Africa in Uganda, Anna Nambooze, highlighted the impact of recent trade facilitation reforms that have helped reduce the cost and time involved in cross-border trade.

According to Nambooze, the operationalisation of One Stop Border Posts (OSBPs) along the Northern Corridor has reduced border crossing times by nearly 70 percent while significantly increasing trade volumes.

She also pointed to the digitisation of trade processes, particularly the Uganda Electronic Single Window, which has reduced export approval timelines by more than 30 percent, generating estimated savings of over USD 25 million annually for the private sector.

“These reforms are making trade faster, cheaper, and more predictable for businesses operating across the region,” she said.

International Partnerships Supporting Uganda’s Trade Agenda

The British High Commissioner to Uganda, Lisa Chesney, underscored the importance of international partnerships in supporting Uganda’s economic transformation. Chesney urged stakeholders to focus on ensuring that policy reforms translate into real opportunities for businesses and entrepreneurs.

“Let us focus on the last mile of trade policy implementation — ensuring that reforms translate into real opportunities for businesses, exporters and entrepreneurs,” she said.

Private Sector Raises Infrastructure Concerns

Private sector leaders used the conference to highlight structural challenges that continue to affect trade competitiveness.

The Chairperson of the Uganda Agribusiness Alliance, Victoria Sekitoleko, called on government to address persistent infrastructure bottlenecks that increase the cost of doing business.

She pointed to power fluctuations, poor road networks and border delays as major barriers affecting agro-industrial growth.

“We have traders who spend up to two months at the Elegu border trying to cross into South Sudan,” Sekitoleko said.

Similarly, Manish Kara, Chief Executive Officer of Tembo Steels, said unreliable electricity supply has forced some manufacturers to shift production to night hours in order to manage power instability.

“We request government to upgrade infrastructure and update policies that provide ease of doing business,” Kara said.

Shaping Uganda’s Trade Future

Over the next two days, the conference will host discussions on export competitiveness, regional integration, services trade expansion, trade facilitation reforms and digital trade systems.

Experts say the recommendations emerging from the conference will guide policy reforms and institutional strategies needed to accelerate Uganda’s progress toward its ambitious $500 billion economy target by 2040.

The National Trade Sector Review Conference is expected to conclude with a set of policy priorities aimed at strengthening Uganda’s trade ecosystem and positioning the country as a competitive hub for regional and international commerce.