The Private Sector Federation (PSF) has signed a partnership agreement with the Ethiopian Chamber of Commerce to promote trade and economic relations between Rwanda and Ethiopia.
Geoffrey Kamanzi, the head of trade facilitation and negotiations at PSF, said the key areas of co-operation will include technology transfer and technical assistance, capacity building to strengthen bilateral and business relations between the two countries.
“The two parties also agreed to exchange information, especially on taxation, investment opportunities and trade policies of their respective countries,” Kamanzi told The New Times in an interview.
He noted that the agreement, signed in Addis Ababa, Ethiopia last week, was witnessed by over 47 Rwandan and 200 Ethiopian business-people from the agriculture, manufacturing, energy, transport, infrastructure and real estate sectors.
Kamanzi is optimistic that the deal will unlock many opportunities for local businesses and exporters and, hence, spur trade between Rwanda and Ethiopia.
More about the deal
Both Rwanda and Ethiopia will establish a framework for co-operation and the implementation of a sustainable strategy on a variety of areas of common interest.
Ato Gashaw Debebe, the secretary general of the Ethiopian Chamber of Commerce, said the deal also provides mechanisms for dispute resolution among members of both organisations.
Muhammad Mazimpaka, the chairman of Chamber of Commerce at PSF, urged local businesses to take advantage of co-operation and look for new markets for their products.
Mazimpaka explained that the main objective of the arrangement is to facilitate, strengthen, diversify and expand trade between the two countries.
Last year, Rwanda and Ethiopia signed a trade co-operation agreement to facilitate trade between the two countries.