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Ministry of Trade and Industry and Trade Mark East Africa sign agreement

Kigali, 19 June 2019:  TradeMark East Africa (TMEA) has committed to fund Rwanda’s Ministry of Trade and Industry with USD 11.2Million in support of programmes that will improve Rwanda’s regulatory environment to reduce barriers to trade.

The funding has been provided by the United Kingdom’s Department for International Development (DFID) and United States Agency for International Development (USAID).

The announcement was made today during an Memorandum Of Understanding signing ceremony between TMEA and MINICOM. The agreement with MINICOM is part of TMEA’s USD 50Million programme with the government of Rwanda (GOR) that aims to support interventions that will improve the country’s competitiveness through investments in key sectors.

The two partners committed to build on ongoing interventions that have reduced barriers to trade like automation of key trade processes and upgrading of physical trade infrastructure.  Some of the new interventions will include the supporting trade and industry directorates to review and develop trade policies and strategies that will facilitate Rwanda private sector compete in global markets. This will be in addition to supporting National Trade Facilitation Committee (NTFC) to support the negotiation and implementation of trade agreements. The money will also be used for the construction and operationalization of cross border markets at Nkora, Rubavu, Rusizi, Burera and Karongi. 

Speaking at the event, the Permanent Secretary of Trade and Industry Michael Sebera said;

“TMEA’s interventions during Phase I of its programme in Rwanda have largely shown very large returns. As an example, export growth has averaged 10.8% since 2010, finally reversing the trend in the growth of the trade deficit and driven in part by a 75% reduction in the time it takes for a container to reach the Port of Mombasa. Time and cost for transportation of containerized cargo have seen significant reduction with TMEA intervention targeting elimination of NTBs and trade facilitation in general along the transport corridors within EAC’’

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