The governments of Rwanda and the United States have held high level discussions on various ways to increase trade and investment flows between the two countries. Commerce and Industry Minister, Protais Mitali led the Rwandan delegation to a meeting which took place in the US Capital, Washington DC, recently.The officials discussed the trends in two-way trade negotiations toward a US-Rwanda Bilateral Investment Treaty, the implementation of the African Growth and Opportunity Act (AGOA), the World Trade Organisation (WTO) Doha negotiations, trade capacity building activities and infrastructure issues. US imports from Rwanda were valued at $7 million during the first eight months into the agreement, up by 77 percent from the same period in 2006, and consisted mainly of tungsten ores and coffee. Substantially all Rwandan imports entered the US duty-free during that period, with over half of total imports going to the US under preferences available within the AGOA framework and the Generalized System of Preferences.Several leading US companies are currently examining possible investment opportunities in the country in sectors like information technology, minerals and mining, agriculture and especially in coffee production.According to a statement from the office of the US Trade Representative, the recent discussion was part of the US-Rwanda Trade and Investment Framework Agreement (TIFA), signed in 2006.“Rwanda’s economic reform since the 1994 Genocide has captured the attention of many US companies,” the statement quotes Karan K. Bhatia, the US deputy trade representative, as saying.He said that the US-Rwanda Bilateral Investment Treaty, now being negotiated with world class investment protections, would complement Rwanda’s economic reform efforts and enhance investor confidence.“Rwanda is a leader among African countries in its approach to trade and open markets. It is working to improve its business and investment climate, is also an active and constructive participant in the Doha negotiations, and is committed to using trade as a means to accelerate economic growth and reduce poverty,” Bhatia said.The negotiations, according to the release, are the first US bilateral investment treaty talks with a sub-Saharan African country in nearly a decade. Ends
