President Paul Kagame has again noted that aid from foreign countries isn’t enough to satisfy the well being of citizens in developing countries saying Instead there should be promotion of investment and trade if sustainable development is to be achieved.
“No matter how big aid is, it can’t be enough to fulfill all plans the government has in regard to ensuring welfare of its citizens,” the president noted in a commonwealth business summit held in Perth city Australia.
Kagame was joined on the panel by two heads of states including Mozambique’s Armando Guebuza and Namibia’s Hifikepunye Pohamba and Canada’s Prime Minister Stephen Harper was also at panel.
He noted that promotion of trade should also go hand in hand with innovation since the same concept has worked well in developed countries. “If this is accomplished it would benefit 1.2 Billion people living in Africa.”
“I often encourage my fellow African politicians to promote investments in their respective countries as a way to grow their economies,” he remarked.
Dr. Mohan Kaul who has chaired the commonwealth’s business chamber for 14 years, and his term nearing completion, hailed the fact there’s US$100 billion to be invested in countries under the commonwealth.
In this respect, the Rwanda Development Board (RDB) had a stand at the event’s premises which is meant to explain to its visitors some of the investment opportunities in the country.
According to Rwanda’s minister of foreign affairs Louise Mushikiwabo, among the reasons why Rwanda decided to join commonwealth is to enjoy trade relations among the member states as a way of promoting the country’s economy.
The Commonwealth Business Council prepares this forum after every two years before the heads of state meeting, the aim is to review and enhance tried ties among member countries.
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