On Tuesday, newly appointed Minister of Trade and Industry, Soraya Hakuziyaremye took over office during a ceremony where the outgoing Minister Vincent Munyeshyaka handed her instruments of office.
She used the occasion to pronounce herself on a commitment to expend a lot of energy and resources to reduce trade deficit which gravely affects Rwanda’s economic performance.
She said she will partner with foreign investors to help local industries make standard products that can favorably compete on international markets.
“We shall put much emphasis on partnering with foreign partners and investors to produce and export commodities that meet international standards,” she said.
Hakuziyaremye also said on her working agenda is to identify industries that will specialize in making products that are uniquely Rwandan.
She also promised to consult with industrialists and other stakeholders to explore the possibilities of reviewing some trade and industrial policies.
The new Minister said her predecessor has done a good job from which she will build, including the positioning of Made-in-Rwanda products on international markets.
“We will strive hard to get markets for locally made products. It is an aspect we will discuss with the Ministry of Agriculture to ensure local farmers produce also get markets,” she added.
Vincent Munyeshyaka said Rwandan industries are growing but they have not reached the needed level.
He said, “In 2014, the difference between imports and exports was $2.4 billion and reduced to $1.2 billion in 2017, a 50% decrease.”
Munyeshyaka said he managed well his time in the Ministry but reducing the current gap between imports and exports requires long-term actions.
Soraya Hakuziyaremye is a financial management expert with a Master’s degree in Finance and Marketing, from the Solvay Business School of Universite Libre de Belgique.
She also holds a Certificate of Advanced Studies in International Management, awarded by the Thunderbird School of Global Management, at Arizona State University in the USA.
For a period of nearly four years, beginning in December 2002, Ms. Hakuziyaremye worked at the Bank of New York. She then relocated to Brussels and joined Fortis Bank, where she spent six years.
In June 2012, She came back to Rwanda and spent two and one-half years serving as Senior Advisor to the Minister of Foreign Affairs and Cooperation. After a brief stint in private consulting in Brussels, she was hired by the Dutch financial conglomerate, ING, where she rose to the rank of Vice President, Financial Institutions and Financial Markets Risk Management, based in London.
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