Local businesses from Rwanda entered trade and partnership deals with their Moroccan counterparts during a recent business trip to Casablanca, Morocco organized by Rwanda’s Private Sector Federation (PSF).
“We wanted to explore investment opportunities in the Moroccan market, forge business partnerships, as well as tap into the existing opportunities in one of the world’s emerging and enterprising markets,”
Francine Havugimana, the second vice-chairperson, PSF said.
The Private Sector Federation Rwanda is a professional organization that promotes and represents the interests of the Rwandan business community. Established in 1999 replacing the former Rwanda Chamber of Commerce and Industry, PSF is the umbrella organization of nine professional chambers.
The Rwandan delegation to Morocco comprised 13 people from sectors including manufacturing, construction, energy, tourism and hospitality, real estate development and general trading.
Among the local companies that inked partnership deals is Kinazi Cassava Plant Limited which will be exporting four tonnes of cassava flour every three months to Shungure Parfait, a food store proprietor in Morocco.
General trading company Sinda Group will be importing refined cooking oil from Morocco; while pharmaceutical player Entreprise Continentale entered an agreement to register medical products from Morocco and file returns with the Ministry of Health.
Havugimana noted the underserved nature of most emerging economic sectors in the East Africa Community markets saying they present investment opportunities for not only Morocco but other countries as well.
On its part, the Moroccan business community expressed its willingness to partner with Rwandans adding that they have demonstrated their financial capability of representing Moroccan factories and industries locally.
The new partnerships between Rwanda and Morocco are expected to further strengthen relations between the two countries. They follow recently signed agreements in different sectors between the Kingdom of Morocco and the Government of Rwanda aimed at strengthening bilateral cooperation.