Business 15 October 2026 Daily Monitor (Uganda)
Uganda and Oman Forge Trade Pact Amidst Export Imbalance
Uganda and Oman have signed a new trade and investment agreement aiming to boost cooperation in key sectors like agriculture and tourism, despite a significant existing trade deficit favouring Oman. Source: https://www.monitor.co.ug/uganda/news/national/uganda-oman-sign-trade-pact-amid-widening-export-gap-5633742
Uganda and the Sultanate of Oman have formalized a new bilateral trade and investment agreement, signaling a commitment to deepening economic ties. The Memorandum of Understanding (MoU), signed between the Uganda National Chamber of Commerce and Industry (UNCCI) and the Oman Chamber of Commerce and Industry (OCCI) in Muscat on October 12, 2026, aims to foster collaboration in sectors such as agriculture, mining, and tourism, with a strong emphasis on value addition.
This strategic move aligns with Uganda’s broader economic ambitions, including its goal to become a $500 billion economy by 2040 and its efforts to strengthen relationships with Middle Eastern and Gulf Cooperation Council (GCC) states.
However, the agreement is being signed at a time when trade figures reveal a substantial imbalance. While total bilateral trade between the two nations was reported at approximately $422.23 million in 2025, Uganda’s exports to Oman accounted for a mere $7.68 million, according to UN COMTRADE data. Ugandan officials are hopeful that the new pact will help address this disparity.
The UNCCI and OCCI have pledged to work together to facilitate business partnerships, share crucial trade and investment information, organize business delegations, and encourage participation in trade exhibitions. This collaboration is expected to open new avenues for Ugandan businesses to forge direct connections with Omani companies, explore untapped export markets, and attract much-needed investment into the country’s priority economic sectors.