M a r k e t N e w s

Ghana, Rwanda Explore Trade and Investment Opportunities to Boost Economies

Posted on : Thursday , 8th April 2021

Ghana and Rwanda are considering trade and investment partnership opportunities to increase the economies of the 2 countries.

 

This came to light at a virtual summit held to promote the exchange of goods and services between the 2 countries.

 

The targeted areas include Agriculture, Manufacturing and Industrial Services.

 

The virtual summit was organized under the auspices of the Rwanda Development Board and the Ghana Export Promotion Authority.

 

This is the 1st Rwanda-Ghana Business Summit which was facilitated by the Rwandan High Commission in Ghana.

 

Opening the session, the High Commissioner of Rwanda to Ghana, Dr Aisa Kirabo Kacyira, said praised the positive relations between Rwanda and Ghana and expressed the hope that the establishment of a chancery in the country will help businesses in both the countries to connect and do business.

 

“It is about creating relationships and partnerships in the face of expanding intra-Africa tourism and trade,” Dr Aisa Kirabo Kacyira added.

 

The Deputy Chief Executive Officer of Ghana Export Promotion Authority, Samuel Dentu said the business and investment summit would create the necessary interactions and deepen ties between the two countries.

 

“Trade between Rwanda and Ghana is very low. It is imperative for our 2 countries to intensify our trade relations. Today is an engagement we hope will bring meaningful collaboration between Rwanda and Ghana,” Samuel Dentu said.

 

Trade data available showed that Ghana exported goods worth USD 10,000 and USD 46,000 in 2018 and 2019, respectively to Rwanda.

 

Mr Samuel Dentu said the low trade flows between the 2 countries presented huge opportunities for trade.

 

Samuel Dentu said due to the Covid-19 Pandemic, physical interactions had significantly reduced limiting market promotional events to online platforms and in some cases, hybrid events.

 

“We have had to adjust to the new normal by organizing virtual promotion activities to augment and create beneficial networks, new trade deals and establish market connections for our cherished exporters,” Samuel Dentu said.

 

To ensure business continuity that is central to facilitating the recovery of the Global economy, new approaches to building market contacts such as harnessing online promotion and networking have become a necessity.

 

It is imperative for our 2 countries to intensify our trade relations and also take advantage of the current trade protocols birthed by the AU.

 

Mr. Dentu said with the operationalization of the Africa Continental Free Trade Agreement, the promotion of trade among African Countries had become paramount due to the large market and the minimal existence of trade barriers.

 

Mrs. Agnes Gifty Adjei-Sam, Director of Marketing GEPA, said vast opportunities existed in the manufacturing, agriculture, services, and handicraft sectors for Ghana and Rwanda to improve trade flows.

Source : www.abafnz.com
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