The Rwanda Private Sector Federation (PSF) has signed Memorandum of Understanding (MoU) with Turkish International Business to establish a trade facility between Rwanda and Turkey called ‘Rwanda-Turkish Business Council’.
While signing agreements yesterday, the chairman of Rwanda PSF, Ruzibiza Stephen said that the trade facility is meant to make trade easy for both countries.
“We can help our business people in case they face difficulties, secondly we will know market prices in Turkey through the established council,” he said.
The head of Kazova Yapi, F. Volcan, who spoke on behalf of Turkey International Business said that Rwanda-Turkish Business Council, said that Turkey is seeking partners from the African continent and added that it is a great chance since the cooperation between both countries is expanding.
“In Rwanda there is a business framework, security and labour but most interesting is that there are young people thinking big and it is better to look for a free environment when you want to run business,” he said.
According to information IGIHE got from Rwanda Development Board (RDB), 20 companies from Turkey have registered in Rwanda with a worth of USD400 million of investments. These include Hakan Company which is expected to produce 100 Megawatt of electricity by 2017.
In 2014 Rwanda imported goods worth more than USD21 million from Turkey while Turkey imported USD8.5 million from Rwanda.
In 2012, President Paul Kagame visited Turkey informed investors of the available investment opportunities in Rwanda. Turkey is among 20 World richest countries.
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