Rwanda’s Private Sector Federation, an organization that advocates for improvement in the country’s business sector, has signed a memorandum of understanding (MoU) with Mozambique to boost trade, investment and tourism activities between the two countries.
The deal was signed at the Mozambique and Rwanda Business Forum, an event held in Kigali on July 21st that sought to highlight lucrative business opportunities for both countries. The business meeting also sought to forge mutual partnerships in trade between the two nations.
“The business forum between Rwanda and Mozambique is an important step in strengthening business relations and tapping into existing opportunities in flagship economic sectors such as, construction, tourism, energy, mining, transport and logistics,” said the Rwanda Development Board (RDB), a government body tasked with boosting social and economic growth in the country.
The business forum featured a presentation from Mr. Lourenco Sambo the Director General at the Agency for Promotion of Investment & Export on investment opportunities in Mozambique.
He discussed how the two countries can strengthen trade relation. Following the discussions, Rwanda’s Private Sector Federation and Mozambique’s Confederation of Economic Association signed and exchanged the aforementioned MoU.
The Rwanda Development Board described the country as a low-risk business environment, having been named the 5th safest country in Africa and the 2nd fastest growing economy on the continent.
Speaking at the event, Rwanda Development Board CEO, Clare Akamanzi announced that to further help in forging their ties, Mozambique will participate in the famous Maputo Agricultural & Industrial Trade Fair that will take place in August this year.
Also speaking at the event, Mozambique’s President Filipe Nyusi addressed business delegates from both countries. He urged them to form trade synergies, stating that such agreements have the potential to transform Pan-African trade.
“The Special Economic Zone in Rwanda is an inspiring module that encourages us to do more, this can be replicated in many parts of our country,” he explained.
President Nyusi added that the already existing good relations between Rwanda and the Government of Mozambique will ensure that businesses and investments continue to thrive and benefit the entire region.