The State Visits by His Excellency Yoweri Kaguta Museveni, President of The Republic of Uganda and former President of the Republic of South Africa Nelson Mandela (RIP) and various working visits by the former President Mbeki and President Jacob G Zuma have strengthened bi-lateral relations and inspired confidence in the business community.
South Africa is one of the fastest growing sources of foreign direct investment
for Uganda. South African investments include areas like telecommunications
(MTN Uganda), Breweries (SAB Millers), Finance (Stanbic Bank), wholesale and
retail (Shoprite Checkers, Metro Cash and Carry, Woolworths, Game), poultry
(Bokomo), energy (Eskom) and many others.
Trade relations between the two countries continue to grow from strength to
strength even though there is an imbalance in South Africa’s favour. Uganda’s
exports to South Africa include cotton, gold, fish fillets, tobacco, coffee and
fresh flowers. South Africa’s exports include machinery, motorcars, plastics,
chemicals and electronics, parts and accessories, petroleum, live animals,
books and news print, textiles, footwear, vehicles, aircrafts and house hold
goods. South Africa could strengthen links in a number of areas including
information technology, health services, agro-processing, biotechnology and
chemicals.
A solid framework for co-operation exists between the two countries. South
Africa and Uganda concluded a Convention on the Avoidance of Double Taxation
and the Prevention of Fiscal Evasion with respect to Taxes on Income in 1997.
In May 200 they signed an Agreement on the Promotion and Protection of
Investments. In 2002, South Africa and Uganda signed a Bi-Lateral Trade
Agreement. The two countries have signed an agreement establishing a Joint Permanent
Commission of Cooperation. It will
enhance cooperation in areas like defence, trade and investment, foreign
relations, health, agriculture and education.