Uganda has substantial trading potential and opportunities in her domestic, regional and international markets. However, most traders in Uganda, especially the indigenous small and medium scale entrepreneurs, operate under such a heavily regulated and highly liberalized economy that they find it difficult to cope with global competitors and realize sustainable growth. The cost of trading (doing business) in Uganda is relatively very high mainly due to unfavorable policies and regulations. Hence, there is crucial need for considered regulatory and policy reforms aimed at bolstering the competitiveness and suitability for Uganda’s investment climate so as to realize sustainable trade development. This policy brief, thus, highlights some recommendable deregulation and reforms for improving the trade policy.