British Prime Minister Boris Johnson has said that Rwanda is among countries expected to feature in the United Kingdom’s preferential trade system. Johnson spoke at the conclusion of the Commonwealth Business Forum, which concluded in Kigali on Thursday.
He stated that the United Kingdom would announce countries on July 6th to be included in its new preferential trade system, which includes the removal of tariffs for exports to the UK.
Rwanda and the United Kingdom have been negotiating the trade deal over recent months to establish future trade relations between the two countries.
These negotiations were necessary because Rwanda was trading with the UK previously under the protocols of EU. However, Britain was not accepted as a member of the EU.
Rwandans export a lot of vegetables, fruits, flowers and chili to the UK, among other things.
The preferential system will allow Rwanda to access the UK market without tariffs, thereby reducing costs of doing business. This could lead to increased production and local value addition.
Johnson also supported the African Continental Free Trade Area, stating that it would bring economic prosperity to African countries.
He also hailed Rwanda’s social economic progress noting that in Rwanda infant mortality is down by 80 per cent since 2000, 9 out of 10 Rwandans have health insurance, and all children are in school. These were his ambitions for the Commonwealth, he stated.
Johnson spoke with President Paul Kagame after his meeting. Johnson stated that the UK is keen to maintain its partnership with Rwanda. He is set to take over as Commonwealth Chair-in–Office. Together, they will be working closely to address the most urgent global challenges.
At the summit, Rwanda showcased investment opportunities such as Kigali International Finance Centre, mining, manufacturing, digital innovations in a wide range of sectors, as well as education.
Source: rnewtimes
