Rwanda, EU sign deal to enhance trade, investment

 

The government of Rwanda and the European Union on Monday, September 7, inked a deal that will among others strengthen the recently launched European Business Chamber of Rwanda (EBCR).

Launched in March this year, EBCR is a group of more than 250 European-owned registered businesses in Rwanda.

 By

Edwin Ashimwe

The organisation seeks to promote business exchanges and policy conversations through networking and advocacy between the two sides.

 

The signed deal, worth Rwf23 million is expected to enhance the organization’s capacity to as well as promote trade and investment between Rwanda and the EU.

 

Commenting on the development, Ambassador Nicola Bellomo, Head of Delegation of the European Union to Rwanda, said that the agreement intends to enhance trade and investment between the two sides.

“The European Union's support to the consolidation and strengthening of the newly founded European Business Chamber of Rwanda (EBCR) will help the new Chamber grow into a self-sustaining, independent organisation. EBCR will play a crucial role to promote European business interests in Rwanda, hence enhancing trade and investment between Rwanda and the EU, for the mutual benefit of both Europeans and Rwandans”.
He added: “It goes beyond the achievement of inclusive and sustainable growth, it has a cultural exchange aspect as well between the people of Rwanda and Europeans.”
According to Giancarlo Davite, the president of the organisation, this development will help them offer a professional service to their members, ensure they liaise and interact properly with the Rwandan authorities, the European diplomatic missions in Rwanda, and the European trade delegations.
Additionally, Davite who is also the owner of Kipharma, a distributor of pharmaceutical products, pointed out that their aim is to help European-owned businesses in Rwanda, European businesses interested in investing and doing business in Rwanda “and overall help Rwanda in attracting foreign investment and being the place to be for doing business in Africa”.
Furthermore, the organisation will provide a platform to collaborate with Rwandan businesses in coordination with the Private Sector Federation (PSF), encouraging partnerships and synergies between Rwandan companies and European based businesses and investors.
Some of the biggest European businesses operating in Rwanda include Skol, Heineken, Brussels Airlines and Volkswagen.
Besides, the two parties cooperate in areas of energy and infrastructure, rural development and food security, as well as governance, civil society and human rights among others.

eashimwe@newtimesrwanda.com