Rwanda, China ink deals in urban investment

Municipality authorities in Kigali have inked a deal with their peers from Eastern China's Yiwu City n to promote tourism,…

Municipality authorities in Kigali have inked a deal with their peers from Eastern China’s Yiwu City n to promote tourism, trade, science and technology in a “win-win” cooperation, an official statement issued Saturday in Kigali said.The deal  endorsed late  Friday will among other things see made-in-Rwanda products get  show-space in Yiwu City’s trading centre, and encourage investments from  Yiwu to Rwandan capital city Kigali.

Investments from Yiwu to  Kigali will mainly focus on urban areas  where companies from the  Eastern China City have already established business activities  including Zhejiang China Commodities City Group (CCC Group) which opened  the eWTP Yiwu Global Innovation Center Rwanda Digital Trading Hub at  Masaka Dry Port.

Yiwu is a county-level city in central Zhejiang  Province, East China. With flourishing markets that take up a large area  of the city, it is renowned as a shopping paradise for small  commodities.

Yiwu’s Vice-Mayor Zhang Chao was quoted in a  statement as saying that  they hope the MoU will serve as a bridge to  connect China and Rwanda more closely and deepen cooperation in trade  and many other fields.

Since 2019, , Rwandan companies have been  invited to participate in various exhibitions as part of the People’s  Republic of China’s measures to actively open the Chinese market to the  world.

There was the first China Africa Economic and Trade Expo  that was held in Hunan province, Changsha. At this occasion, Rwandan  entrepreneurs turned up to create connections with their counterparts  from China as well as showcasing their products.

It is also  believed that accessing the Chinese market will greatly boost the  business of Rwandan companies. Rwandan participation could also help  speed up the ongoing application process for Rwandan fresh products to  be eligible for export to China such as beef, chili, and avocados among  others.