The senatorial commission on economic development and finance has tipped local manufacturers on how to effectively reduce high costs of Made in Rwanda products to attract Rwandans attention to local products.
They revealed this yesterday during their visit to the ongoing exhibition of Made in Rwanda products held at the Private Sector Federation expo grounds in Gikondo.
The vice president of senatorial commission of economic development and finance, Sebuhoro Celestin said that manufactures have particular reasons rate their prices at specific ceilings including expensive raw materials and human resources, but urged that there must be a solution for the matter to attract attention of local consumers of local products.
Senator Karangwa Chrysologue said that manufactures must study the market before they produce to identify prices of foreign competitors who make similar products which to establish convenient price for Rwandans.
Senators have demonstrated that working in cooperatives among people making similar products is another solution for high costs since the later would bring in economies of large scale production, improved quality and benefits accruing to cluster anchoring of production.
Statistics from the National Institute of Statistics in Rwanda indicate that Rwanda imported products worth USD 1, 384,310,000 from January to September, 2015 and exported USD 426,200,000 worth of goods.
Rwanda targets to cut high prices of local products to support the Made in Rwanda program and attract local consumption.
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