PUBLISHED ON August 20th, 2014

Rwanda plans to hike exports by 28%

KIGALI, RwandaRwanda aims at increasing exports by 28% in the next five years

This was said by the Minister of Trade and Industry Francois Kanimba during the recently concluded National Exporters’ Conference that took place at the Kigali Serena hotel.

“This conference is based on the conclusions reached during the March 2014 meeting that was aimed at looking at ways the country can increase on exports to other countries,” the minister said.

Ways to improve on exportation were seen as clear development of partnership between the government and the private sector leading to the formation of the Public and Private Partnership.

“We have a number of products that can be exported such as agricultural products, minerals products. Rwanda is expected to double production in minerals so the country can get more revenue from them and again we are looking at improve more in service delivery aimed at increasing exportation,” Kanimba said.

He said government was looking at resolving the different challenges that may affect the target of increasing exportation.

Rwanda exports are projected to grow by 7% in value terms an increase from $703 million received last year 2013 to $751million this year 2014.

Rwanda exports goods and services of about $1.2billion whereas the country spends about $2.6billion on imports which shows a huge trade deficit but with hope of collect this in the near future.

Currently the country’s export sector is growing at a 12% and therefore this is why the government aims at increasing on this if it is to reach its targets under the Economic Development and Poverty Reduction Strategy 2 (EDPRS2)

The minister said Rwanda’s exportation capacity has been good for the last years though it faced a setback last year because of the low prices on agricultural products exported.

EDPRS2 looks at what needs to be done or changed to help promote exportation hence increase on export revenues.

Rwanda therefore looks at improving on PPP as one way of achieving such a target.

During the same conference a Memorandum of Understanding plus different contracts between the government of Rwanda and different companies built under the private sector federation were signed were the government pledged support to the private sector to help in perform better.

“We are going to be held accountable for what we have signed for and therefore this is going to help us achieve our targets of being the engine of the country’s economic growth,” Benjamin Gasamagera chairman PSF said.

He said by signing such contracts and the MoU, PSF’s dreams had come true though it was the beginning and they still had a long way to go.

Rwanda’s exports to different countries include among others tea, coffee, minerals, plus many more home made products.

The country looks at developing horticulture which will contribute to more exportation hence increase on revenue collected.

Meanwhile, Rwanda and the European Union last week reviewed the progress of projects under the 10th European Development Fund (EDF) which started in 2008-2013.

“We want to assess progress of implementation of the projects under the 10th EDF, adjust where necessary and agree on the way forward for the 11th EDF in order to attain the desired target,” the Head of Delegation of European Union to Rwanda and the Co-chair at the meeting,” Michael Ryan the the Head of Delegation of European Union to Rwanda said last week

Source URL: East Africa Business Week

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