- Rwanda and Turkey have fixed an ambitious trade target of US $ 1 billion. The announcement was made by the visiting Turkish Minister Mevlüt Çavuşoğlu.
Rwanda and Turkey have fixed an ambitious trade target of US $ 1 billion. The announcement was made by the visiting Turkish Minister Mevlüt Çavuşoğlu.
The official delegation from Turkey currently in Rwanda has identified several areas for strengthening bilateral cooperation with Rwanda. Vincent Biruta, Rwanda’s Minister of Foreign Affairs, and his Turkish counterpart, Mevlüt Çavuşoğlu signed three cooperation agreements on January 12 to further enhance the two-way cooperation. The agreements covered general cooperation, culture, and science, technology, and innovation.
The two sides discussed ways and mean to promote trade and investment between both countries. The Turkish Minister announced that a host country agreement for the Turkish Maarif Foundation which will invest in TVET training in Rwanda is in the pipeline. He added that Turkish companies were keen to partner with Rwanda in infrastructure projects. Turkish firms have already participated in several construction projects such as the Kigali Convention Centre, BK Arena, and the ongoing renovation of Amahoro Stadium.
Çavuşoğlu noted that the annual business forum between both countries organised by the private sector played a crucial role in increasing trade and investment. He urged both sides to work towards achieving the true business potential of both sides. As per the latest available data, Rwanda’s exports to Turkey increased from US $ 31 million in 2019 to $178 million in 2022.
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Of late, Rwanda has attracted significant Turkish investment. Doğuş Group, one of the leading Business groups has set up three luxury resort hotels in Kigali, Karongi, and around the Lake Kivu belt. He pointed out that Africa is set to benefit from the Black Sea Grain Initiative, an agreement between Russia and Ukraine made with Turkey and the United Nations in 2022. He also disclosed that Turkey plans to enhance the exports of fertilisers and processed grains to Africa.
