Rwanda’s Private Sector Federation in collaboration with African Export-Import Bank (Afreximbank), have announced a planned roadshow that will sensitise the business community on the benefits of the Africa Continental Free Trade Area (AfCFTA).
In March 2018, Rwanda witnessed the historic signing of the AfCFTA – a continental single market set to connect 1.3 billion populations. The single market will come into force in July this year.
African Export-Import Bank (Afreximbank) has been championing the private sector to boost the market through different initiatives such as Intra-African Trade Fair.
Rwanda won the ticket to host this year’s IATF2020 which is expected to trigger deals worth $40 billion.
Ahead of the Trade Fair, Afreximbank and PSF organised the road show that will
Rwandan private sector how it can become a primary beneficiary of the African Continental Free Trade Area (AfCFTA) which will provide significant opportunities to access the largely untapped markets and sectors in an integrated African market of over 1.3 billion people.
The roadshow will be conducted on February 11 and will provide members of the private sector in the country the substantial benefits of attending the second Intra-African Trade Fair (IATF2020) which will take place in Kigali from 1 to 7 September 2020.
According to Afreximbank, Rwandan businesses can take advantage of the AfCFTA by establishing new networks of business buyers and sellers from across the African continent, enabling the country to significantly expand its intra-African trade.
In a statement released on Thursday, Prof. Benedict Oramah, President of Afreximbank, said: “Rwanda’s economic transformation is undoubtedly one of Africa’s success stories. Rwandan businesses can further capitalise on this achievement by positioning themselves to take full advantage of the AfCFTA.”
He said that Rwanda’s removal of intra-African trade tariffs, progressive dismantling of non-tariff barriers and protectionism, are good examples that will create a genuine single continental market.
“By attending IATF2020, they will gain an unrivalled opportunity to showcase their goods and services to buyers from across the African continent, whilst establishing new trade and investment links with a wide network of private and public sector players from more than 55 different countries.”
IATF2020 is expected to be Africa’s main trade event of 2020 and is aimed at providing a marketplace for buyers and sellers of products and services from Africa and beyond to meet and explore business opportunities.