ARUA – In a significant boost for Small and Medium Enterprises (SMEs) in Northern Uganda, the Ministry of Trade Industry and Cooperatives has announced a tax waiver for those participating in the upcoming East African Trade Expo.

The expo, in its 26th edition, is scheduled to take place in Juba, South Sudan, from October 26 to November 6, 2024, and will feature traders from across the region.

Godfrey Tukamubona, the Assistant Commissioner in charge of marketing, revealed that the government will provide a 15-day tax waiver as an incentive to promote local content and support SMEs. This initiative means that participating traders will be exempt from the 18 percent Value Added Tax (VAT) on their profits and will not face charges at the border post.

Tukamubona announced during a preparatory meeting held in Arua City on Tuesday, where he emphasized the government’s commitment to fostering the growth of local businesses through such incentives.

Denis Okao, the coordinator of the Uganda Small Scale Industries Association for the West Nile Region, welcomed the tax waiver, noting that the regional trade expo presents a valuable opportunity for SMEs to establish market linkages and expand their businesses. “This is a great opportunity for our SMEs to showcase their products and tap into new markets. It will significantly contribute to the growth and development of local enterprises,” Okao said.

The expo will feature a wide range of business categories, including small traders involved in value addition, arts and crafts, East African-made clothing, herbal medicine, shoe making, cultural groups, and other handmade items.

Jobel Ayiko, the Arua City Senior Commercial Officer, advised traders to begin processing the necessary travel documents promptly to avoid last-minute rushes and potential frustrations. “All participants must ensure they have their travel documents in order well ahead of time to avoid any inconveniences,” Ayiko stated.

According to the Ministry of Trade’s exhibition guidelines, each participating SME is required to pay a registration fee of 100,000 Shillings for the event. The ministry has allocated 250 slots specifically for SMEs from Northern Uganda, encouraging a strong representation from the region.

The East African Trade Expo, held annually, is a major event that brings together traders, investors, and stakeholders from across the East African Community (EAC) to explore trade and investment opportunities.

This year’s expo in Juba is expected to attract significant attention and participation, providing a platform for Northern Uganda’s SMEs to shine on a regional stage.