The presidents of the United States and Rwanda signed a trade agreement Tuesday, saying the pact urges US companies to consider Rwanda a good investment.
The Office of the US Trade Representative and the US Department of State has announced that the United States and Rwanda have begun formal negotiations toward a Bilateral Investment Treaty (BIT) that would strengthen investor protections and encourage the continuation of market-oriented economic reforms in Rwanda.
The Belgian Minister for Foreign Affairs is expected in Rwanda this week to seal trade and investment frameworks with the Rwandan government.
On the final day of the annual forum on the Africa Growth and Opportunity Act (Agoa) last month, the United States and Rwanda signed a bilateral agreement aimed at increasing trade flow between the two countries.
The United States and Rwanda today signed an agreement aimed at deepening and strengthening trade and investment ties between the two countries.
President Kagame, who was officially opening the 21st Common Market for Eastern and Southern Africa (COMESA) Council of Ministers meeting at Hotel Intercontinental, said that while Africa is keenly negotiating for a fairer international trade system, it had done little to open up its markets with conducive investment climates and policies.
The government has crossed the threshold in reviewing the Free Trade Agreement with Rwanda and Burundi.
Uganda has been urged to sign free trade agreements with Rwanda and Burundi in order to waive customs duties.