Rwanda and Tanzania have signed an agreement to boost cross border trade by eliminating trade barriers.
The deal was signed on October 17 in Kigali by Rwanda’s trade and Industry minister François Kanimba and the deputy minister for Industry and Trade in Tanzania, Gregory Teu.
The agreement marked the climax of a bilateral meeting on elimination of non-tariff barriers (NTB’s) and the promotion of cross-border trade between the two countries.
Mr Kanimba observed that Rwanda and Tanzania were important trading partners with a firm commitment to increasing trade and cooperation.
“I hope with these relations, Rwanda and Tanzania will cooperate to further increase small trader cross-border business,” he said.
Kanimba added that the agreement will further help the two countries remove barriers to trade and create a favourable business environment to facilitate trade.
“It is important to eliminate all reported trade barriers and refrain from introducing new ones in order to cut the high cost of doing business and take advantage of all the benefits of regional integration,” he said.
According to statistics, Tanzania was Rwanda’s seventh largest trading partner in 2011, accounting for four per cent of Rwanda’s international trade and 17 per cent of regional trade.
Teu said “We expect from this bilateral relations, our citizens from the two countries to trade among themselves easily,” he said, adding that the elimination of non-tariff barriers will reduce the costs of doing business between the two countries.
The Executive Secretary of Rwanda Long Distance Truckers Association, Theodore Murenzi, said: “I am happy that the two countries have agreed to eliminate NTBs which have been affecting us, especially because we lose money and time along the corridor which impacts on our businesses.”
Leave a Reply