The Indian government on Wednesday approved a trade cooperation framework between the Asian nation and Rwanda to facilitate better economic relations between the two countries.
The framework was signed on July 23 this year during Prime Minister Narendra Modi’s visit to Rwanda.
“The Union Cabinet chaired by Prime Minister Narendra Modi has given its ex-post facto approval for the trade cooperation framework between India and Rwanda,” an official statement by the Indian government said.
The framework is expected to improve trade between the two countries for mutual benefit.
In July, during his visit, Modi was accompanied by about 100 members of India’s private sector from various fields to explore opportunities for trade and economic partnership.
During the July visit, Prime Minister Modi and President Paul Kagame, the two leaders met members of the Rwandan and Indian private sector to collect suggestions on ways to increase trade and investment between the two countries.
Rwanda’s exports to India include mainly aluminium waste and scrap, cereal flours and dairy products.
The national carrier, RwandAir, operates four flights weekly to Mumbai.
Investment projects from Indian have increased from 66 last year to 91 this year with a special focus on ICT, manufacturing and agro-processing.
Among the notable investments include Airtel, Acacia Property developers, Mahatma Gandhi University, Gisovu Tea Company and Imana Steel among others.