Thursday, August 6, 2020

Rwanda, DR Congo sign deal to ease cross-border trade

Must read

How the Hawala system of transferring money works in Africa

Hawala is a process of transferring money from one country to the other without moving it physically. The money transfer process involves trust and balancing of...

Gambia imposes curfew as COVID-19 cases soar

The Gambian government has declared a state of emergency and nationwide night curfew for 21 days. The country’s president, Adama Barrow announced the latest action as coronavirus...

Botswana bans sale of alcohol to curb COVID-19

The government of Botswana has banned the sale of alcohol in a bid to curb the spread of COVID-19. All liquor licenses have also been...

The best reasons why you need to invest in South Africa

There’s absolutely no doubt in anyone’s mind that South Africa is the economic hub of Africa, and this is the part of Africa, which...
Isaac Kaledzihttps://en.wikipedia.org/wiki/Isaac_Kaledzi
Isaac Kaledzi is an experienced and award winning journalist from Ghana. He has worked for several media brands both in Ghana and on the International scene. Isaac Kaledzi is currently serving as an African Correspondent for DW.
- Advertisement -

Rwanda and DR Congo have signed a new agreement establishing a framework for bilateral cooperation in the area of cross-border trade and elimination of non-tariff barriers.

Officials in charge of trade from both countries signed the memorandum of understanding (MoU), recently in Rubavu District, during the official launch of the Common Market for Eastern and Southern Africa Simplified Trade Regime (COMESA STR).

According to officials, the move seeks to ease small-scale trade by waiving import duty on products whose worth is below $2000 (about Rwf1.6 million).

It is also especially expected to help thousands of small-scale cross-border traders, largely women, to carry out their daily business smoothly.

Goods commonly traded between the two countries are agri products, animal feed and grains, bakery products, construction, audiovisual and recreational equipment.

- Advertisement -

Speaking shortly after signing the agreement, Rwanda minister of trade and industry, Francois Kanimba said that it was a milestone for small-scale traders from both countries to trade freely without any barriers.

“We are committed to improve and promote cross-border trade between our country and the rest of the countries in the region. This is part of promoting tripartite free trade area across Africa,” he noted.

DR Congo minister of commerce, Nefertiti Ngudianza Kisula said that DRC and Rwanda relations were growing strong.

DRC and Rwanda marginalized traders have been given green light to maximally utilise market opportunities existing between two neighboring countries. DR Congo is committed to implement Comesa simplified trade regime and promotion of commodity-based trade (CBT) with immediate effect,” the minister said.

- Advertisement -

The deal is considered by most traders as a convenient procedure, which offers quick facilitation through establishment of trade information desks at the border post.

 

Source: Africanews

- Advertisement -

More articles

- Advertisement -

Latest article

How the Hawala system of transferring money works in Africa

Hawala is a process of transferring money from one country to the other without moving it physically. The money transfer process involves trust and balancing of...

Gambia imposes curfew as COVID-19 cases soar

The Gambian government has declared a state of emergency and nationwide night curfew for 21 days. The country’s president, Adama Barrow announced the latest action as coronavirus...

Botswana bans sale of alcohol to curb COVID-19

The government of Botswana has banned the sale of alcohol in a bid to curb the spread of COVID-19. All liquor licenses have also been...

The best reasons why you need to invest in South Africa

There’s absolutely no doubt in anyone’s mind that South Africa is the economic hub of Africa, and this is the part of Africa, which...

Covid-19: Price of hydroxychloroquine skyrockets in Nigeria

Nigerian officials say the price of the anti-malaria drug hydroxychloroquine which has been touted by some as treatment for coronavirus has skyrocketed. The country's Federal...