Uganda’s President Yoweri Museveni has received and held a meeting with the United Kingdom Prime Minister’s Trade Envoy to Uganda and Rwanda, Lord Dolar Popat, who called on him yesterday at State House, Entebbe. Mr. Museveni and his guest who was accompanied by the British High Commissioner to Uganda Mr. Peter West discussed issues related to investments and economic development between Uganda and Britain especially in the sector of agriculture in which, they noted, Uganda has great potential. Museveni informed Lord Popat that Uganda has gone the extra mile in churning out large quantities of agricultural and dairy products but the challenge is the low prices on the internal market. He added that the immediate solution to this challenge is to process them and add value to them for export markets. “Our farmers and processors of agricultural produce should adapt to the competitive world so that they are not eliminated in marketing,” Museveni stressed. Lord Popat and High Commissioner Peter West said that all that is required is for the produce from Uganda to meet both the European Union and United Kingdom uniform standard that pertains to food and beverage importation to Europe. Lord Popat commended Museveni for steering a fast, steady and progressive national economy in Uganda. Source: KMA News Agency

Rwandan companies from the agricultural and handcrafts sectors will attend Chinese International Import Expo (CIIE) as the country seeks to boost exports on the global market. The event will take place from 5th to 10th this month in the city of Shanghai and countries are expected to present their national image, promote trade and investment as well as help their companies to open new markets, and advance economic globalization. This year’s CIIE is the second edition, and it will provide 270,000 square metres of exhibition area for goods and 30,000 square metres for services. Goods like high-end intelligent equipment; consumer electronics and appliances; apparels, automobiles; food products, medical equipment and services like emerging technologies, service outsourcing, creative design, culture and education, logistics, among others are expected to be presented. The first CIIE that happened in the same city in 2018 attracted 172 countries, regions and international organizations. More than 3,600 enterprises participated in the expo, which attracted more than 400,000 domestic and overseas purchasers. The cumulative intended turnover for deals of purchase of goods and services reached $57 billion. This year’s edition is expected to establish a unified “product debut” area, and have interactive modules that will provide visitors a more immersive exhibition experience. According to Rwanda Development Board, the country will be represented by Gashora farms (chili producers), West Hills Coffee Limited, Garden Fresh, Damarara Coffee, Rwanda Mountain Tea, among others. “Rwanda targets having more companies export to China by participating in this expo. The CIIE will be a...

The Development Bank of Rwanda (BRD) has urged Small and Medium Enterprises (SMEs)to tap into financing opportunities through the Export Growth Fund (EGF) expected to substantially boost exports and tackle trade deficits. The call was made on Thursday as BRD launched one year campaign to improve EGF and raise the uptake of the fund among exporters in a bid to increase exports. Held at Kigali Marriot Hotel, the launch of the campaign attracted participants from BRD management, partners and media to have an insight into the fund’s performance and available opportunities. Supporting export development is one of the strategic interventions of BRD. The bank plans to achieve it through the EGF initiative, the Rwanda Growth Anchor Initiative (RGAI), the establishment of Advanced Factory units& Special Economic Zone Infrastructure and the launch of a Technical Assistance Program. In November 2015, the Government of Rwanda initiated EGF, a public fund managed by BRD to facilitate access to export and related funding. SMEs involved in export sector or with export potential are targeted beneficiaries of the lending scheme channeled through financial institutions. EGF falls under export promotion, one of the priority sectors of the economy at BRD. The other key sectors of focus include agriculture, affordable housing, energy and education. EGF is one of the key interventions to promote the growth of exports which has windows for critical undertakings in the sector like market penetration in form of matching grants, subsidized interest rates and credit insurance guarantees. Under the EGF, an exporter desirous...

As the world’s economic giant – the United States – continues to wage economic war against China, Mexico, Turkey and, more recently, India in establishing tariff barriers against their products, African countries have opted to spurn protectionism and embrace intraregional trade. A significant and historic step was taken on 30 May, as the African Continental Free Trade Area (AfCFTA) came into effect. What does this all mean, and is it cause for celebration? A market potential for goods and services of 1.2 billion people, an aggregate gross domestic product (GDP) of $2.5trn, the reduction of tariffs and the free movement of labour is not to be sniffed at. I know this, as I come from a country of 2 million people and a GDP of circa $17.5bn. Investors want access to a large consumer base and the benefits of scale cannot be underestimated for attracting foreign direct investment. Yes, the agreement is indeed a cause for cautious celebration. The speed with which it has been brought into effect from June 2015, when the negotiations first commenced to establish the continental free trade area, to May 2019, when 51 of 54 African countries signed up, is nothing short of a miracle. We need to applaud the tenacity of our leaders in getting here.  As a continent, intraregional trade is an economic imperative. Currently only 12% of trade is within Africa, while 75% of our exports to the rest of the world are still mainly minerals (crude oil and copper), according to United Nations...

Sign up for Next China, a weekly email on where the nation stands now and where it’s going next. By many measures, China’s Belt and Road Initiative has been a monumental success. Since 2013, when China launched the effort to expand trade links, more than 130 countries have signed deals or expressed interest. The World Bank estimates some $575 billion worth of energy plants, railways, roads, ports and other projects have been built or are in the works. But President Xi Jinping’s signature effort has also come in for criticism, including accusations that China is luring poor countries into debt traps for its own political and strategic gain. The mixed reviews abroad and worries at home about the cost have led China into something of a reboot as it tries to increase transparency, improve project quality and reduce financial risks. 1. Where are the problems? Several countries have run into trouble with Belt and Road projects or had a rethink, often after a popular backlash, change of government or both. Complaints include corruption, padded contracts, heavy debt loads, environmental damage and a reliance on imported Chinese labor over local hires. Some examples: • Sri Lanka borrowed heavily to build a new port, couldn’t repay the loans, and then gave a state-owned Chinese company a 99-year lease in exchange for debt relief. The port has little business now but provides China a strategic berth along key shipping lanes. • China was set to lend Pakistan $8 billion to upgrade a railroad...

With the United States and China locked in a trade war, climate action lagging behind climate reality, and the World Trade Organisation’s Appellate Body at risk of becoming inoperable, the theme of this week’s WTO public forum — “Trading Forward: Adapting to a Changing World” — couldn’t be more appropriate. But if the global trading system is to be adapted to twenty-first-century realities, careful attention must be paid to the needs of developing countries. Consider Africa, which has been working hard lately to deepen intra-continental trade and integration. While such efforts — most notably the African Continental Free Trade Area (AfCFTA), have the potential to spur growth and development, their impact depends both on complementary global reforms and on countries’ implementation of WTO agreements. Success is far from guaranteed. The Trade Facilitation Agreement (TFA), which entered into force in 2017, is a case in point. One of the few WTO agreements to be ratified in recent years, the TFA places developing members’ ambitions at the forefront. It aims to expedite the movement, clearance and release of goods across borders; establishes measures for effective cooperation between customs and other relevant authorities; and provides for technical assistance and capacity building. The TFA recognises that trade facilitation rests on three key pillars: Simplification, harmonisation and transparency. Given its global uptake, it has the potential to ensure that reforms reflecting this recognition are “locked in” across countries, including those whose governments might otherwise be reluctant to implement them. For African countries that manage to implement the TFA...

A network of some of Africa’s largest companies will gather in Kigali, to share ideas about how companies can build business initiatives around solving social problems at scale and contributing to achieving the United Nations Sustainable Development Goals on the continent. The event, the Africa Shared Value Leadership Summit, aims to increase awareness of how social and environmental protection can be incorporated into the strategies of businesses across industries and borders. The Shared Value Business Model, developed by Harvard Business School’s Prof Michael Porter and Mark Kramer and practised by an increasing number of businesses across the world, advocates that business has a responsibility to create both economic and social value. The summit will provide delegates with an opportunity to learn from the Rwanda success story and why President Paul Kagame is widely regarded as having presided over an economic and social rebirth in the country. In economic terms, Rwanda’s rate of economic growth has averaged 8% since 2001, according to the World Bank. It is one of the four African countries included in the top ten fastest-growing global economies in the world in 2019, with medium-term growth projected at 7-8%. In social terms, poverty rates have fallen, and Rwanda has made dramatic gains in health and development indicators. “Rwanda has demonstrated how enormous challenges can be overcome if there is a willingness between public and private sector to work together, to create a thriving economy,” says Shared Value Africa Initiative CEO Tiekie Barnard. “The summit will offer participants insights...

With the United States and China locked in a trade war, climate action lagging behind climate reality, and the World Trade Organisation’s Appellate Body at risk of becoming inoperable, the theme of this week’s WTO public forum — “Trading Forward: Adapting to a Changing World” — couldn’t be more appropriate. But if the global trading system is to be adapted to twenty-first-century realities, careful attention must be paid to the needs of developing countries. Consider Africa, which has been working hard lately to deepen intra-continental trade and integration. While such efforts — most notably the African Continental Free Trade Area (AfCFTA), have the potential to spur growth and development, their impact depends both on complementary global reforms and on countries’ implementation of WTO agreements. Success is far from guaranteed. The Trade Facilitation Agreement (TFA), which entered into force in 2017, is a case in point. One of the few WTO agreements to be ratified in recent years, the TFA places developing members’ ambitions at the forefront. It aims to expedite the movement, clearance and release of goods across borders; establishes measures for effective cooperation between customs and other relevant authorities; and provides for technical assistance and capacity building. The TFA recognises that trade facilitation rests on three key pillars: Simplification, harmonisation and transparency. Given its global uptake, it has the potential to ensure that reforms reflecting this recognition are “locked in” across countries, including those whose governments might otherwise be reluctant to implement them. For African countries that manage to implement the TFA...

The establishment of fully serviced industrial parks with plug and play facilities to attract investments is one of the proposed actions to gain quick wins in the promotion of the Cotton, Textiles and Apparels (CTA) Manufacturing Industries in East Africa. The first forum of owners CTA manufacturing industries held in Kigali, Rwanda days ago further proposed sustainable procurement of all institutional uniforms, beddings, draperies by state institutions from textiles and fabric industries in the region. Another resolution of the forum was to carry out campaigns on Buy East Africa, Wear East Africa including implementation of the declaration of Fridays as “Afrika Mashariki Fashion Day” and organizing the Annual “Afrika Mashariki Fashion Week” exhibition to precede the EAC Heads of States Summit Meetings normally held on November 30, every year. Themed, ‘Promoting Local Production and Consumption  of Cotton, Textile and Apparels (CTA) Made in the EAC Region’, the two-day forum was attended by participants from the ministries responsible for industry, trade, agriculture and EAC; private sector players, CTA industry associations, private sector associations, industry associations and development partners, among other stakeholders. The overall objective of the Forum was to ensure that the owners of CTA industries meet discuss pertinent issues within the sector and make useful and practical recommendations to the EAC Policy Organs especially the Heads of State Summit for purposes of promoting the sector. Opening the Forum, Rwanda’s Permanent Secretary of Trade and Industry, Michel Minega Sebera, noted that CTA has the potential to create employment, improve economic well-being and widen...

ESTABLISHMENT of fully serviced industrial parks with plug and production facilities to attract investments is one of the proposed actions to gain quick wins in the promotion of the cotton, textiles and apparels (CTA) manufacturing industries in East Africa. The 1st forum of owners of cotton, textiles and apparels (CTA) manufacturing industries was held in Kigali mid this week with Rwanda proposing for sustainable procurement of all institutional uniforms, beddings, draperies by state institutions from textiles and fabric industries in the region. Another resolution of the forum was to carry out campaigns on ‘Buy East Africa, Wear East Africa including implementation of the declaration of Fridays as ‘Afrika Mashariki Fashion Day’ and organising the Annual ‘Afrika Mashariki Fashion Week’ exhibition to precede the EAC Heads of States Summit Meetings normally held on 30th November every year. Opening the Forum, Rwanda’s Permanent Secretary of Trade and Industry, Michel Minega Sebera, noted that CTA has the potential to create employment, improve economic well-being and widen the tax base in the region. Sebera called on EAC partner states to fast track the phasing out of the second hand clothes in order to reap the benefits of the sector. He informed the meeting that in 2016, Rwanda started implementing the Summit directives and embarked on the phase out of second hand clothes. The PS disclosed that the phasing out of second hand clothes in Rwanda had attracted new investments in the sector and led to more than 15 new companies investing in apparels. He...