Business actors in Rwanda and France are optimistic about leveraging the new chapter of bilateral relations between the two countries and commencing economic partnerships and investments in the Rwandan market.
The development was discussed during the official visit of France’s Minister of Foreign Trade and Economic Attractiveness, Franck Riester and 30 French companies in Rwanda, on October 27.
The delegation was received by Rwanda’s Minister of Trade and Industry, Beata Habyarimana along with other players in the private sector.
Reister said that this is an important step forward, five months after the visit of President Emmanuel Macron, thanks to the commitment of French businesses.
"Our French companies have decided to invest even more in the country in different important sectors such as health, sustainable city, transport, construction, environment, new tech in different fields of agro-industry and agri-food industry,” he said.
He also said that promotion of trade between both countries creates a win-win situation adding; "we want to invest in the long-term here in the country and best way to do it is to build partnership between private sectors, companies, and people-to-people.”
Habyaramina said that in recent years, the government of Rwanda has launched comprehensive business reforms aimed at reducing the cost, time and process of the well-known Doing Business index.
This, she said, has led to a favorable business environment in which companies operate and has positioned Rwanda among the best destination countries for investment.
Robert Bafakulera, Chairman of Private Sector Federation (PSF) presented to the French delegates business opportunities and procedures of establishing and conducting businesses in Rwanda.
Furthermore, he explained about different economic blocs and trade agreements put in place for regional integration and ease of doing cross-border trade with attached benefits and incentives.
Riester also attended the Ministerial meeting between the African Union and the European Union, preparing the AU-EU summit scheduled in February 2022.
Rwanda and France recently opened a new chapter giving hope to better ties following over two decades of lukewarm relations that were blighted by the role of France in the 1994 Genocide against the Tutsi.
This was cemented by the recent visit by French President Emmanuel Macron, during which he sought forgiveness from survivors of the 1994 Genocide against the Tutsi, for what he admitted was his country's historical and political responsibility in Rwanda.