17 April 2017

Rwanda: Local Firms Look to Morocco for New Markets and Business Partnerships

Fifty local private sector members will next month head to Casablanca in Morocco to explore trade and investment opportunities in the north African country.

Geoffrey Kamanzi, the Private Sector Federation (PSF) director for trade facilitation and negotiations, said business leaders from the energy, finance, transport and logistics, information and communication technology, construction and real estate sectors, among others, will make the trip.

He added that local businesses will be looking to strengthen trade between Rwanda and the Kingdom of Morocco.

"The business trip is part of the strategies to boost trade and investment between Rwanda and Morocco," Kamanzi said in an interview in Kigali last week.

This will be a follow up on the various bilateral trade agreements signed between the two countries last year, he added.

A number of companies from Morocco have expressed interest in investing in Rwanda.

A delegation of more than 100 Moroccan business executives were in the country for the African Business Connect Summit that took place in Kigali at the beginning of this month.

Last year, Rwanda and Morocco signed 23 bilateral agreements to promote trade and cooperation in different sectors.

They later formed a joint council and signed a partnership agreement aimed at strengthening trade between the two countries in the presence of the leaders; President Paul Kagame and King Mohammed VI.

Rwanda-Morocco trade

Business flows between both countries stand at less than one per cent, and analysts say the latest efforts are a 'step in the right direction', urging local firms to take advantage of the huge opportunity to increase exports to the kingdom.

Emmanuel Hategeka, the chief operations officer, Rwanda Development Board, recently said the government was creating opportunities for the business community to form strategic partnerships that will help enhance trade and investment.

"A strong foundation that has already been set by the two governments, which we anticipate could result into more trade opportunities for businesses. We will, therefore, continue to identify and remove any barriers to trade as part of efforts geared at helping attract more investors into the country," he said.

Hategeka added that the objective is to further improve the doing business environment for investors, a move that will also enable businesses to reduce operational costs.

Rwanda

Civil Rights Group Petitions for Govt to Release Diane Rwigara

A civil rights group has petitioned the government of Rwanda to release Diane Rwigara, presidential aspirant who is in… Read more »

Copyright © 2017 The New Times. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 900 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.