Chronicle Editor
Own correspondent
PREPARATIONS for the Rwanda-Zimbabwe Trade and Investment Conference to be held in Kigali in July have gathered momentum with a virtual conference to unpack business and trade opportunities in Rwanda being held this morning.
Rwanda Ambassador to Zimbabwe James Musoni, high-level representatives from the Rwanda Development Board, ZimTrade and Zimbabwe Investment Development Agency are key participants at the conference.
Rwanda has vast opportunities for Zimbabwean businesses wishing to do trade and to invest in its fast-growing economy. Zimbabwe is keen on growing its exports to Rwanda with market survey results by ZimTrade, indicating that locals could ride on this destination to generate more earnings.
Last week ZimTrade hosted a market intelligence information dissemination seminar focusing on the Rwanda market to prepare and equip local producers with knowledge regarding the vast export opportunities in that country.
The findings will be availed at the virtual conference which starts at 10AM ending at 12 noon.
The conference is part of efforts to present Zimbabwean businesses an opportunity to explore opportunities presented by the African
Continental Free Trade Area, which came into force in January this year.
Increasing trade with Rwanda is, thus, expected to enhance access to markets in the East African Community (EAC) and in turn, increase Zimbabwe’s exports to the region with a combined GDP of more than US$177 billion.
The Rwanda market survey follows the resolution to intensify co-operation between Rwanda and Zimbabwe that saw several Memoranda of Understanding being signed in March this year to cement bilateral relations at the inaugural virtual session of the Joint Permanent Commission on Co-operation (JPCC).
More MoUs are expected to be signed in Kigali at the Rwanda-Zimbabwe Trade and Investment Conference slated for July 28 and July 30, 2021.
Rwanda has experienced high economic growth over the years and is fast becoming a strong economy in Africa, with an average of seven percent year-on-year real GDP growth since 2010. Despite having a strong policy framework, Rwanda’s industrial sector is still small. The survey by ZimTrade has, thus, sought to drive impetus on exports of processed foods, pharmaceuticals, clothing, construction, horticulture, leather and leather products, agriculture inputs and implements, and services sectors.
Businesses and individuals wishing to participate in this groundbreaking virtual conference can find the link on the ZimTrade digital media platforms or the Twitter handle @Zifmstereo. The conference, being hosted by local multimedia firm, AB Communications.
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