Trade fair to boost local market

Companies and traders exhibiting at the fifth international trade fair aim to harness their stake in the local market.Faustin Mbundu, the Chairman of the Private Sector Federation (PSF) says that such competition will help in strengthening the country’s private sector and create more opportunities.“I hope this expo will take us to the next level (in terms of competitiveness),” he saidThis year’s trade fair attracted over 400 exhibitors with around 720 stands, an indication of rising interest in the Rwandan market by foreign companies. Mbundu said that the private sector is embarking on a tough journey in integrating the Rwandan market into the East African community.“One way of harnessing this bigger market is through joining hands with private sector players and stakeholders from the EAC member states in pursuit of our agenda. And this expo is a stepping stone to achieve this,” he said. He further said that the market is creating more opportunities to investors and businesses due to favourable doing business environment in which the country ranks high among compared to its peers in the region.Abdallah Abedi, from Madhvanni Group in Uganda says they intend to use the expo to increase their penetration in the local market.“Most of our products are already on the Rwandan Market, but we are trying to see how we can increase our market base because. We believe Rwanda can be another good market for our products,” he commented at the expo premises in Gikondo, Kigali.Most of the companies at the trade fair have indicated their willingness to open up outlets in the country to better serve the market. “I have come to do the study. I have got positive responses through this expo,” Ajmaal Khan, a Pakistani house ware trader and an exhibitor told Business Times.Local companies are also optimistic that the expo would propel the expansion of their products to the region.“This expo will expose our products to other countries in this region,” Dianne Umuhoza, one of the local exhibitors said.