The Ministry of Trade and Industry yesterday signed a Memorandum of Understanding (MoU) with Rwanda to deepen bilateral trade relations between the two countries.
Alan Kyerematen, Minister of Trade and Industry, signed on behalf of Ghana while her counterpart from Rwanda, BéataHabyarimana, signed for her country.
Speaking at the signing ceremony in Accra, Mr Kyerematen expressed optimism that the agreement signed would develop into a strong and mutually beneficial relationship between the two countries.
He emphasized the significant role Rwanda had played in some of Africa’s business-oriented policies including the establishment of the African Continental Free Trade Area (AfCFTA).
“You would recall that the formal decision to establish the African Continental Free Trade Area (AfCFTA) was taken at the AU Summit of Heads of State and Government held in Accra in July 2012. In the same vein, you will recall that it was at the 10th Extraordinary Summit of the AU Assembly of Heads of State held in Kigali in March 2018 that the African Continental Free Trade Area (AfCFTA) Agreement was signed,” he stated.
Mr Kyerematen, while acknowledging the seemingly low level of trade between Ghana and Rwanda despite their good relations over the years, indicated that he hoped the signing of the MoU would form the foundation for improved trade.
“Despite the long-standing fraternal relations between our two countries, the level of trade between our two countries is very low. The same phenomenon applies in the area of investments.
It is against this background that this Memorandum of Understanding is being signed, to develop new strategies and implement measures that will significantly enhance bilateral trade and economic cooperation between our two countries,” Mr Kyerematen stated.
Through the MoU, he said Ghana could become an entry point for Rwandan investments within the West Africa sub-region whilst Rwanda on the other hand, could become a strategic entry point for Ghana into the Central and Eastern African markets.
Already, he said, Ghana had a Bilateral Air Service Agreement with Rwanda signed in 2018, which permits airlines from our two countries to operate commercial flights between Ghana and Rwanda to boost transport connectivity.
On her part, Madam Habyarimana reiterated the importance of enhanced trade between African countries and urged the two countries to work at ensuring its success.
Despite the emergence of the AfCFTA, she said it was imperative that individual countries make efforts toward promoting trade between member African countries for wealth creation and improved lives for the people of the continent.
BY CLAUDE NYARKO ADAMS
