Local companies seek mileage at Zim-Rwanda conference

LOCAL companies should take advantage of bilateral and multilateral trade agreements that Zimbabwe and Rwanda are signatories to and build strong networks that exploit available economic opportunities.

Foreign Affairs and International Trade Minister, Dr Fredrick Shava, said this while officiating at the inaugural Rwanda-Zimbabwe Trade and Investment Conference that started in Rwandan capital Kigali yesterday.

He noted the need for private sector to leverage on trade agreements to create strong linkages that will improve visibility of Zimbabwean products in Rwanda. President Mnangagwa launched the National Development Strategy during the ZimTrade Exporters Conference in 2019.

“There is need for continuous strengthening of business cooperation between the two countries, riding on the framework of the Common Market for Eastern and Southern Africa (Comesa) and the African Continental Free Trade Area (AfCFTA),” said Dr Shava.

“Both countries are members of the Comesa and the AfCFTA, a huge market estimated to have a population of around 1,3 billion people and a combined gross domestic product valued at US$3,4 trillion.

“I, therefore, encourage private sector players from both countries to take advantage of this important platform to build strong networks and prepare for the opportunities to be availed by Comesa and AfCFTA.”

Building on Minister Shava’s address, Rwanda’s Minister of Foreign Affairs and International Cooperation, Dr Vincent Biruta, reiterated the need for businesses in the two countries to take advantage of the AfCFTA, whose trading started in January this year.

“I encourage private sectors to take advantage of available tools for development and sustainable growth in Africa, such as the AfCFTA,” he said.

The Rwanda-Zimbabwe Trade and Investment Conference, which runs until September 30 has been organised by the country’s trade development and promotion agency, ZimTrade, Rwanda Development Board and their partners to strengthen bilateral trade relations between Zimbabwe and Rwanda.

The conference is one of the first fruits of the Memorandum of Understanding that was signed between ZimTrade and Rwanda Development Board during the inaugural virtual Session of the Joint Permanent Commission on Cooperation (JPCC) held in March 2021, whose overall objective was to promote mutually beneficial trade between the two
countries.

It is also part of the ongoing efforts to strengthen economic cooperation between Zimbabwe and Rwanda within the context of the Joint Permanent Commission of Cooperation (JPCC), which provides for a legal and coordinated framework for cooperation.

Four Memoranda of Understandings (MoUs) in the areas of; tourism and business events; economic, trade and investment cooperation; information and communication technologies and e-Government; and cooperation in the field of agriculture and livestock development were also signed by the two Governments during the Conference.

Another MoU was signed between the Rwanda Private Sector Federation and the Confederation Zimbabwe Industries to improve direct linkages between the businesses in the two countries.

The Zimbabwean Government and business delegation is led by Dr Shava, who is accompanied by the Minister of Industry and Commerce, Dr Sekai Nzenza, and Minister of Environment, Climate, Tourism and Hospitality, Nqobizitha Mangaliso Ndlovu.

There are export opportunities for Zimbabwean businesses in Rwanda in areas such as agriculture, health, education and manufacturing, pharmaceutical, ICT, packaging, clothing and textile, construction and engineering, and tourism.

This presents opportunities for Zimbabwean companies to supply agricultural inputs, mechanisation equipment, and implements.

As Rwanda is on a major infrastructure development drive, Zimbabwean companies can supply building and construction supplies, as well as related services to the sector. Zimbabwean companies in the services sector can ride on the nation’s stellar academic reputation and high literacy rate to export services.

Already, Zimbabwe has a decent pool of qualified professionals that can satisfy these demands and can export teaching services, particularly in subjects such as English, Mathematics and Science.-The Chronicle