Iran Proposes $30B Direct Trade Deal with Uganda to Deepen Economic Ties

Iran’s Minister of Foreign Affairs, Hon. Abbas Araghchi, has proposed the establishment of direct trade worth $30 billion between Uganda and Iran, in a move aimed at bypassing intermediaries and strengthening economic relations between the two countries.

Hon. Araghchi made the remarks during a bilateral meeting with Uganda’s Minister of Foreign Affairs, Gen. Jeje Odongo, on the sidelines of the 2025 Non-Aligned Movement (NAM) Ministerial Meeting in Kampala.

He began by expressing deep appreciation for Uganda’s hospitality and the successful organization of the ministerial discussions, noting that Uganda’s leadership of NAM has provided an important platform for countries of the Global South to champion equitable development and non-alignment in global affairs.

The Iranian Foreign Minister highlighted the longstanding cooperation between Uganda and Iran, emphasizing that international sanctions should not hinder trade and economic collaboration. “We must find ways to work directly, free from third-party interference, to realize our mutual interests,” he said.

Both ministers agreed to explore new areas of partnership, particularly in trade, energy, agriculture, health, and technology. They reaffirmed their countries’ shared commitment to strengthening South-South cooperation under the NAM framework.

Gen. Odongo welcomed Iran’s proposal, noting that the initiative aligns with Uganda’s vision of economic independence through diversified partnerships. He commended Iran for its continued engagement with African nations despite global challenges and reiterated Uganda’s openness to deeper cooperation across key sectors.

Both sides resolved to build on previous engagements and set up follow-up mechanisms to implement agreed areas of collaboration, marking a renewed phase in Uganda–Iran relations anchored on mutual respect, solidarity, and shared development goals.