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Trade between Rwanda, Zimbabwe grows by over 50%: official

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Xinhua


Bilateral trade between Rwanda and Zimbabwe has grown by more than 50 percent over the past four years, a Rwandan official said on Monday during the opening of a business forum.

The two-day Rwanda-Zimbabwe Business Forum opened in the Rwandan capital of Kigali, with over 100 companies showcasing their products and services. The forum’s activities include showcasing investment opportunities, bilateral meetings, and business-to-business networking.

“In the last four years, bilateral trade between Rwanda and Zimbabwe has increased by over 50 percent. Zimbabwean companies have invested more than 38 million U.S. dollars in Rwanda, and eight Rwandan companies have started operations in Zimbabwe in the energy, information technology, and agro-processing sectors,” Francis Gatare, chief executive officer of the Rwanda Development Board (RDB), said at the event.

The forum, the third since 2021, is co-organized by the RDB and the National Trade Development and Promotion Organization of Zimbabwe and aims to strengthen trade relations between the two countries.

Rwandan Minister of Foreign Affairs and International Cooperation Vincent Biruta said in view of a complex global landscape, it is essential to identify and capitalize on emerging trends and market dynamics.

“Rwanda and Zimbabwe, with their unique strengths and capabilities, have much to offer the world. Leveraging our respective comparative advantages, we can create a cycle of growth and prosperity that benefits both nations,” he said.

Zimbabwean Deputy Minister of Foreign Affairs Sheillah Chikomo said the forum presents an opportunity to share up-to-date and useful information on trade and investment opportunities between the two countries.

“We are at your service and will be pleased to assist businesses from Zimbabwe and Rwanda with trade information to increase market coverage for goods and services,” she said.