Ghana, Rwanda explore trade and investment opportunities to boost economies

Ghana and Rwanda are considering trade and investment partnership opportunities to boost the economies of the two countries.

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

The targeted areas include Agriculture, Manufacturing and Industrial Services.

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

This is the first 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 countries to connect and do business.

“It is about creating relationships and partnerships in the face of boosting intra-Africa tourism and trade,” she added.

The Deputy Chief Executive Officer of GEPA, 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 two countries to intensify our trade relations. Today is an engagement we hope will bring meaningful collaboration between Rwanda and Ghana,” he said.

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

Similarly, Ghana's imports from Rwanda have been negligible.

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

He 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,” he 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.

Through such initiatives, opportunities are created for suppliers to link up with potential buyers or distributors without escalating the risks of further spread of the virus; while ensuring that the necessary revenue from international trade for many economies is sustained.

It is imperative for our two 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.

Ghana and Rwanda, he said, should take advantage of this arrangement for their mutual benefit.

“I envisage this business and investment summit will bring more meaningful collaboration between Ghana and Rwanda, evidenced in many more impactful partnerships for our institutions going forward,” he said.

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.

---GNA