In a bid to foster bilateral trade and investment relations, the UK-Rwanda Business Forum convened to explore opportunities for collaboration and discuss strategies to position Rwanda as a prime investment hub in Africa.
The event convened at the Kigali Convention Centre commenced on Monday, 29th and will end on Wednesday 31st January 2024 with a resounding call for collaboration and investment.
The inaugural UK-Rwanda Business Forum is themed “Succeeding in Rwanda: Unlocking Growth and Opportunities.”
The three-day forum is expected to build on the momentum of the current trade volume between both countries, which has doubled over the last five years.
The event was attended by notable figures including the British High Commissioner to Rwanda, His Majesty Trade Commissioner (Africa), the CEO of Bboxx, and the Chief Commercial Officer (CCO) of RwandAir.
UK- Rwanda Strategic Partnerships for Prosperity
At the heart of the forum was the recognition of the strategic partnership between the UK and Rwanda. Both nations reaffirmed their commitment to deepening economic cooperation.
At the same time, they focused on leveraging each other’s strengths to drive innovation and create shared prosperity.
Likewise, they held discussions that centered around the vast investment opportunities present in Rwanda’s burgeoning economy. From infrastructure to renewable energy projects.
On the other hand, delegates explored avenues for investment that align with Rwanda’s development goals while offering attractive returns for investors.
In 2023, total trade in goods and services (exports plus imports) between the UK and Rwanda was around $44 million (£35 million) in the four quarters to the end of June 2023, an increase of 9.4 per cent.
UK exports to Rwanda are mainly machinery and pharmaceuticals, while Rwanda’s exports to the UK are mainly coffee and tea. Currently, registered investments in Rwanda from the UK over the past decade amount to $662 million.
Rwanda’s commitment to creating a conducive business environment was a recurring theme throughout the forum. During the forum, delegates praised the country’s pro-business policies, streamlined regulatory framework, and robust infrastructure. This factors have positioned Rwanda as one of Africa’s most attractive investment destinations.
Forum Focus on Innovation and Technology
Innovation and technology emerged as key drivers of economic growth during the forum. Delegates highlighted Rwanda’s vibrant tech ecosystem and the government’s initiatives to promote digital innovation and entrepreneurship.
At the same time, discussions also revolved around opportunities for collaboration. This collaboration include areas such as fintech, e-commerce, and digital infrastructure development.
The forum also underscored the importance of enhancing trade relations between the UK and Rwanda. Delegates discussed strategies to increase bilateral trade, reduce trade barriers. On the other hand, they discussed how to expand market access for businesses in both countries.
As the UK-Rwanda Business Forum drew to a close, participants expressed optimism about the future of economic cooperation between the two nations.
UK, Rwanda Partnership
UK- Rwanda forum serves as a platform for forging new partnerships and exchanging ideas. More so, the event lays the groundwork for mutually beneficial collaborations. This collaboration help in driving economic growth and prosperity for years to come.
At the same time, the UK-Rwanda Business Forum serves as a testament to the strong economic ties between the United Kingdom and Rwanda. By fostering dialogue, promoting investment, and nurturing partnerships.
As Rwanda continues on its path towards becoming a regional economic powerhouse, forums like these play a crucial role in unlocking new opportunities. They further drive inclusive growth for the benefit of both Rwanda and its international partners.