Rwanda, China bilateral trade up 31.2%

China invested in 49 projects worth $182.4 million, Nelly Mukazayire, deputy chief executive officer of the Rwanda Development Board said during China International Import Expo (CIIE) promotion conference held in Kigali.

Wang Xuekun, Chinese ambassador to Rwanda said bilateral trade between China and Rwanda has registered steady and rapid growth, increasing by 31.2% to $477 million in 2022 compared to the previous year.

Mukazayire said Rwanda hopes to secure crucial business partnerships with Chinese companies during the 6th China International Import Expo slated for November in Shanghai.

Mukazayire emphasized that the CIIE presents an excellent platform for raising brand recognition for Rwandan products and attracting Chinese investors. "This year marks Rwanda's sixth participation in the CIIE, and the continuous involvement has significantly increased awareness of Rwandan products in the Chinese market," she said.

Mukazayire highlighted Rwanda's active trade partnership with China, citing exports primarily composed of minerals, coffee, and chili.

According to her, the expo enables Rwandan companies to explore additional products that might arouse the interest of the Chinese market, beyond the traditional exports of tea and coffee.

Song Shangzhe, visiting deputy director general of the China International Import Expo Bureau, expressed China's sincere desire to share its market with Rwanda and the world through the CIIE. He underscored the positive impact of the CIIE on China-Rwanda economic and trade cooperation, facilitating Rwandan enterprises' access to the vast Chinese market.

"To support Rwandan and African participants, particularly least developed countries (LDCs), CIIE offers various policies and incentives such as a certain number of free standard booths, construction subsidies, and preferential tax policies for the retention and purchase of exhibits," said Song.

Ambassador Wang emphasized that the CIIE is not merely a week-long exhibition but also an economic forum where dignitaries, international officials, and scholars gather to discuss economic cooperation.

Wang said that the CIIE serves as a platform to attract investments from China and other countries, offering opportunities for knowledge exchange and improving output and supply chain management for Rwandan counterparts, while welcoming Rwandan enterprises to participate in the CIIE and assuring the Chinese Embassy's commitment to facilitating their involvement.

The preparations for the event are progressing as scheduled, and the 6th CIIE is set to take place from Nov. 5 to 10. The contracted Business Exhibition area has exceeded 260,000 square meters, covering sectors including food and agricultural products, automobiles, intelligent industries and information technology, consumer goods, medical equipment and healthcare products, and trade-in services, according to organizers.