30 percent increase for exports targeted

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30 percent increase for exports targeted

In a bid to improve the country’s balance of trade position the Minister of Trade and Industry Francois Kanimba has stated that Rwanda plans to increase its exports by almost 30 percent this fiscal year.

.“We have a number of products that can be exported such as agricultural products and mineral products.

Rwanda is expected to double production in minerals so the country can get more revenue from them and again we are looking at improving more in service delivery aimed at increasing exportation,” Kanimba said.

Ways to improve on exportation were seen as clear development of partnership between the government and the private sector leading to the formation of the Public Private Partnership.

He said government was looking at resolving the different challenges that may affect the target of increasing exportation.

Rwanda exports are projected to grow by 7 percent in value terms an increase from $703 million received last year 2013 to $751million this year 2014.

The country currently imports more than double the exports with the trade volume of imports standing at $1.2 billion as of last fiscal year while exports stood at $2.6billion.

Currently the country’s export sector is growing at a 12 percent and this is why the government aims at increasing this if it is to reach its targets under the Economic Development and Poverty Reduction Strategy 2 (EDPRS2)

The minister said Rwanda’s exportation capacity has been good for the last years though it faced a setback last year because of the low prices on agricultural products exported.

EDPRS2 looks at what needs to be done or changed to help promote exportation hence increase on export revenues.

Rwanda’s exports to different countries include among others tea, coffee, minerals, plus many more home made products.

The country is also looking at developing horticulture which will contribute to more exportation hence increase on revenue collected.

 

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About the author

Olive Ndaka is the Junior Editor for RwandaEye. An investor and young entrepreneur, she is a quick learner and has contributed many articles for RwandaEye in Kinyarwanda.

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