Rwanda and Swedish investors will be able to invest and exchange investment ideas in both countries after a new agreement was penned by Private Sector Federation and Swedish East African Chamber of Commerce.
The new Memorandum of Understanding is meant to establishing a relationship to cooperate in a broad range of areas especially in capacity building and investment and trade promotion.
According to the agreement, both parties will assist their members in establishing and strengthening business contacts through the organization of events such as conferences, seminars, study tours with the objective of promoting the growth of trade between Rwandan and Sweden
The Chief Advocacy Officer Callixte Kanamugire who signed on behalf of Private Sector Federation, welcomed the new initiative adding that Rwandan investors were ready to cooperate with their Swedish counterparts in order to tap into existing opportunities in both countries.
“There is a lot we can do together and we are willing to follow up closely for better implementation of this agreement. Rwanda is strategically located and we have enormous opportunities in different sectors including Coffee and tea exports among others,” He said while addressing the virtual event.
Sweden, a Scandinavian nation, is an export-oriented mixed economy featuring a modern distribution system, excellent internal and external communications, and a skilled labor-force.
The Country’s Timber, hydropower and iron ore constitute the resource base of an economy heavily oriented toward foreign trade. Sweden’s engineering sector accounts for over 50% of output and exports.
The Chairman of Swedish East African Chamber of Commerce Mr. Jan Furuvald reiterated the need to look at potential investment sectors where investors from both countries can venture into highlighting Company to Company relationships.
“I’m so excited to have this MOU signed because it will create more investment opportunities between our Countries,”
The Rwandan Ambassador to the Nordic Countries H.E Ms Christine Nkulikiyinka facilitated and supported the signing ceremony.
Recently, PSF also signed an agreement with Malta Chamber of Commerce to facilitate investment and trade promotion in both countries.
The Swedish – East African Chamber of Commerce (SWEACC) was founded in November 2010 as the first Swedish chamber of commerce to focus on business opportunities in Africa. SWEACC demonstrates the great business potential of the EAC-region.
The prime objectives are to provide a meeting place for business people with an interest in the EAC and to organize seminars which provide insight in the economy and private sector of the EAC.