Rwanda and Poland Private sector federations have entered a deal aimed at easing trade relations between Rwandan business people and their Polish counterparts and spur bilateral trade.
The bilateral trade agreement is expected to grow further and foster bilateral business partnerships, share expertise with the Rwandan business community in all the sectors of the economy.
The agreement gives the private sector an opportunity to penetrate more European markets using Poland as a gateway.
Hannington Namara, the PSF chief Executive Officer, said at the signing ceremony that the deal will open Rwanda’s window into diversifying the export market especially in Poland.
“Poland is one of the markets we are targeting in Europe. We will use this opportunity to woo Polish investors to invest in Rwanda,” he said.
Namara also urged Polish investors to take advantage of Rwanda’s conducive business environment to increase investments in the country, but there was also a calling need to avail information about the existing investment opportunities in Rwanda.
Inz Witold Gerliz, the Central Poland Chamber of Commerce president said Polish investors from the mining, energy, construction, food and agro-business and information technology sectors are interested to invest in Rwanda, but information was needed.
“Polish investors are willing to invest in Rwanda. However, Rwanda should avail information about the existing investment opportunities in the country,” Gerliz said.
The Poland-Africa Partnership and Co-operation international relations executive, Poland will buy Rwanda’s coffee and tea exports.
Rwanda has set an ambitious development plan and prioritized the increase of exports in its 2014/2015 national budget as a way of increasing economic activities in the country’s second Economic Development Poverty Reduction Strategy (EDPRS II).
A steady economic growth is also anticipated at a rate of 6.7 in 2015 and 7 percent in 2016. While agriculture, which suffered a slowdown is expected to increase at 5 percent rate from 3 percent, while industry will move from 11 percent to and service sector to move from 4 to 7 percent- in reference to the government projects and increase financing of private sector initiatives.
Incomes from exports will increase $703million to $751millions as a result of increase in prices of minerals exported in 2014, while imports will increase by 4 percent and the government plans to also increase sell of its bonds on the open stock market.
In a related development Rwanda will, among other African countries, participate in the Second Poland-Africa 2014 Business Congress scheduled for November 6-7 in Poland, this year.