{The Government of Rwanda and Government of Jersey, one of the world’s leading international finance centres, have on the sidelines of the World Economic Forum on Africa in Kigali, Rwanda, signed a Memorandum of Understanding.}
The MoU will cover areas as diverse as agriculture, financial services, tourism, conservation, culture, education, and ICT. It acknowledges Rwanda’s Vision 2020 and the country’s aim to transform itself into a knowledge-based middle-income country.
It will complement the country’s efforts to reduce poverty, raise living standards, promote economic growth and stability, create new employment opportunities and will seek to improve general welfare by supporting the liberalisation and expansion of trade and investment. Rwanda’s financial services industry has made great progress in recent years and Jersey’s expertise in this area will lead to financial services being a fruitful area of cooperation.
Claver Gatete, the Minister of Finance and Economic Planning said “The Government of Rwanda is delighted to have signed an MOU with Jersey.This underlines the longstanding links between our two governments and shared commitment to further develop our mutually beneficial relationship and builds on the Double Taxation Agreement signed between Rwanda and Jersey in 2015.The MOU makes reference to areas of expertise where our two governments can benefit from each other’s experience in fields as diverse as financial services, governance, conservation, digital technologies and agriculture. I look forward to working with colleagues in Jersey in the years ahead as Rwanda continues its transition to a knowledge based middle income economy.”
Senator Philip Ozouf, Jersey’s Minister for Financial Services, Digital & Innovation said; “The signing of this Memorandum of Understanding strengthens the existing Rwanda – Jersey relationship which goes back more than a decade.The agreement will catalyse tangible actions that will contribute to the achievement of the Vision 2020 objectives. We are confident in Rwanda’s future – as a regional hub and knowledge based economy. Economic development is realised through partnerships and cooperation with countries that share similar values. There is a great deal that the peoples of Rwanda and Jersey stand to gain from the landmark MOU we have signed today.”
The MOU will serve to upgrade and enhance the bilateral relationship between Rwanda and Jersey. Links between the two countries stretch back to the early 2000s when Rwanda and Jersey first began to work together on the highly successful Girinka project. More recently a Double Taxation Agreement was signed which is expected to help contribute to flows of foreign direct investment.
The MOU leaves the door open to further cooperation outside of the areas specifically referenced, it will act as the foundation stone of strengthened bilateral relations and serve as the focal point of stronger working relations and the fostering of links between the governments and peoples of both jurisdictions.
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