Luxembourg, Rwanda search more business opportunities
Written by: Administrator
Monday, June 10th, 2019, 6:25
Rwanda Development Board (RDB) and the Luxembourg Chamber of Commerce have today held the first ever Rwanda-Luxembourg Business Forum in capital Kigali aimed at showcasing more opportunities.
Trade between Luxembourg and Rwanda has taken an upward trend with Rwanda exports to her trade partner striking over US$ 8.36 million last year up from about US$ 6.5 million in 2017, records in Rwanda’s investment body indicate.
Rwanda’s major export to Luxembourg is the mineral, Tantalite.
Close to 100 people from the private and public sector in both countries attended the forum and showcased investment and business opportunities in their countries.
15 companies from Luxembourg, with interests in investing in Rwanda’s ICT & innovation, infrastructure, manufacturing and real estate sectors, attended the forum.
Speaking during the event, the RDB Chief Investment Officer, Guy Baron said:
“There are opportunities in both countries in ICT, cyber security, areas of innovation in banking using Fintech, construction, consumer goods and the industrial sector. Forums like this are an important part of bringing a level of expertise, capital and partnerships that will help drive the transformative initiatives we have in developing the different economic sectors.”
The Director of International Affairs from the Luxembourg Chamber of Commerce, Jeannot Erpelding said:
"This being the very first trade mission from Luxembourg to Rwanda, we have found a lot of commonalities between our two countries’ economic development agenda. There is a lot of potential to work together through partnerships even at the level of working with small and medium companies. We have a delegation of business people from different sectors we came with and they are looking to doing business together with Rwandans. This forum is a first step for people to get to know each other, identify business opportunities and see how to partner in them.”
Robert Bafakulera, the Chairman of the Private Sector Federation in Rwanda noted:
“This business forum is beneficial to the Rwandan private sector as we get to learn from other people. Luxembourg is very developed in sectors like its financial sector and ICT, which makes it very important for us to learn from them. We look forward to different knowledge sharing sessions and partnerships in areas that will further Rwanda’s economic development.”