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Ghana and Rwanda are considering trade and investment partnership opportunities to boost the economies of both countries.
This was brought to light during a virtual summit held to promote the exchange of goods and services between the two countries.
Areas of focus include agriculture, manufacturing and industrial services.
The virtual summit was organized under the auspices of the Rwanda Development Board (RDB) and the Ghana Export Promotion Authority (GEPA).
This is the first Rwanda-Ghana Business Summit which was facilitated by the Rwanda High Commission in Ghana.
Opening the session, Rwanda’s High Commissioner to Ghana, Dr Aisa Kirabo Kacyira, praised the positive relations between Rwanda and Ghana and expressed hope that the establishment of a Chancellery in the country will help businesses from both countries to connect and do business. .
“It is about creating relationships and partnerships in the face of stimulating intra-African tourism and trade,” she added.
GEPA deputy managing director Samuel Dentu said the business and investment summit will create the necessary interactions and deepen ties between the two countries.
“Trade between Rwanda and Ghana is very low. It is imperative for our two countries to intensify our trade relations. Today, we hope that this engagement will bring meaningful collaboration between Rwanda and Ghana, ”he said.
Available trade data showed that Ghana exported goods worth USD 10,000 and USD 46,000 in 2018 and 2019, respectively to Rwanda.
Likewise, Ghana’s imports from Rwanda have been negligible.
Mr. Dentu said the low trade flows between the two countries presented huge business opportunities.
He said that due to the Covid-19 pandemic, physical interactions have significantly reduced the limitation of marketplace promotional events to online platforms and, in some cases, hybrid events.
“We have had to adapt to the new normal by organizing virtual promotion activities to increase and create beneficial networks, new trade agreements and establish trade connections for our cherished exporters,” he said.
To ensure the business continuity which is essential to facilitate the recovery of the global economy, new approaches to establishing market contacts, such as exploiting online promotion and networking, have become a necessity.
Through such initiatives, opportunities are created for suppliers to connect with potential buyers or distributors without increasing the risk of the virus spreading; while ensuring the sustainability of the necessary revenues from international trade for many economies.
It is imperative for our two countries to intensify our trade relations and also to take advantage of the current trade protocols born by the AU.
Mr. Dentu said that with the operationalization of the African Continental Free Trade Agreement, the promotion of trade among African countries has become paramount due to the large market and the minimal existence of trade barriers.
Ghana and Rwanda, he said, should take advantage of this arrangement for their mutual benefit.
“I envision that this business and investment summit will bring more meaningful collaboration between Ghana and Rwanda, as evidenced by many more impactful partnerships for our institutions in the future,” he said.
Ms. Agnes Gifty Adjei-Sam, Director of Marketing GEPA, said that vast opportunities exist in the manufacturing, agriculture, service and craft sectors for Ghana and Rwanda to improve trade flows.
— RNG
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