In an increasing globalized world, trade and commerce is now impacted or regulated by various bilateral, regional, continental or multilateral trade agreements or treaties. Such treaties or international laws are now part of laws of Uganda by virtue of Article 123 of the Constitution. It is therefore critical for business to be aware and compliant with both the domestic as well as these international laws.
In this regard, Uganda is a signatory and member of various regional and multilateral trade agreements like WTO, WIPO, EAC, and COMESA. Uganda has also entered into various bilateral trade agreements with various countries.
Moreover, Uganda has entered into Economic Partnership Agreements (EPAs) with EU.
Uganda has also ratified the African Continental Free Trade Area (AfCFTA) which came into force on 30 May, 2019.
The objective of the AFCFTA is to create a single continental market for goods and services, with free movement of business, persons and investments, and thus pave the way for accelerating the establishment of the Continental Customs Union. It also aims at expanding intra African trade through better harmonization and coordination of trade liberalization and facilitation regimes and instruments across Regional Economic Communities (RECs) and across Africa in general. In addition, it seeks to resolve the challenges of multiple and overlapping memberships and expedite the regional and continental integration processes. Moreover, it aims at enhancing competitiveness at the industry and enterprise level through exploiting opportunities for scale production, continental market access and better reallocation of resources.
We also help clients to appreciate the implications and requirements of various bilateral, regional and international trade agreements that may affect their businesses.
