Trade between Rwanda and Zimbabwe increased by 50 per cent in three years, owing to business engagement efforts, representing potential to boost the implementation of the African Continental Free Trade Agreement , according to officials.
Additionally, more than 150 Zimbabwean teachers have been deployed mostly in teachers' training colleges in Rwanda. At least 15 energy projects started implementation in the two countries.While Rwanda and Zimbabwe currently conduct trade under the multilateral agreements of COMESA and bilateral relations, Sheillah Chikomo, Zimbabwean Deputy Minister of Foreign Affairs, said the AfCFTA has set the basis to improve trade and investment relations between the two countries.
"The increase in exports between Zimbabwe and Rwanda since the beginning of coordinated efforts in 2021 has contributed to a lot of growth. Zimbabwe's engagement in regional communities aims at promoting economic growth, attracting foreign direct investments, and improving the livelihood of our citizens."
He said while the tariff liberalization is progressive, it is upon the private sector's commitment to drive its implementation and reap the desired benefits, adding that it is even easier in situations where two countries share good political will with existing bilateral trade ties. Jeanne Francoise Mubiligi, Acting Chairperson of the Private Sector Federation, highlighted key lucrative sectors for Zimbabwean businesses including agriculture and agro-processing, seed development as a nascent sector for Rwanda compared to Zimbabwe's expertise, mining industry with a special focus on exploration, as well as the service industry.