Rwanda’s Private Sector, Federation and the Confederation of Zimbabwe Industries yesterday signed a memorandum of understanding in which they agreed on five cooperation agreements in ICT and e-governance, environment and climate change, agriculture and livestock, tourism and business.
Speaking during the ongoing trade and investment conference, the Deputy Chief Executive of Rwanda Development Board (RDB), Zeph Niyonkuru said Rwanda’s development strategy is centered on private sector development.
“We strongly believe that our ambitious development targets can only be achieved through a thriving private sector that delivers sustained and inclusive growth.
“We were already cooperating in infrastructure, energy and civil aviation among others, Rwanda has emphasized increasing intra-Africa trade, and this has been increasing over the recent years.
“The fact that Rwanda and Zimbabwe belong to some common regional trade blocs grants both nations the opportunity to further their bilateral trade and investment relationships free from tariff barriers” Niyonkuru said.
Rwanda’s export to Africa increased by around 50 per cent over the last five years, from $108 million in 2015 to $160 million in 2019, before seeing a sharp decline following the covid-19 outbreak in 2020.
In the last two years Zimbabwe exported goods worth $15.9 million to Rwanda, while exports from Rwanda were estimated at $113,607.
Rwanda has implemented a host of business reforms, making the country one of the most favored investment destinations in Africa.
