The Ministry of Trade and Commerce (MINICOM) is advising small scale cross-border traders to formalize their activities between Rwanda and the Democratic Republic of Congo.
“Based on the study by the National Bank of Rwanda, the biggest percentage of cross-border trade is informal, hence the need to help the traders formalise their activities,” said James Tayebwa, Regional Trade Development Expert in MINICOM.
He was addressing the traders as part of the ministry’s nationwide sensitisation campaign, targeting small scale business people.
The exercise has already been completed in Rusumo, Kagitumba and Buziba border posts.
Tayebwa also encouraged cross-border traders to deal in goods that are acquired through proper channels.
He appealed to traders along the borders to export and import genuine products certified by relevant bodies which are traceable by origin from our neighbouring countries.
The ministry identified three key instruments that can help cross-border traders formalise their trade activities and ease in taxes. These include simplified certificate of origin, agreed common list of goods from regional countries and simplification of customs procedures.
He assured the traders of the ministry’s full support in promoting their business.