Rwanda market being neglected by Pakistan, complains honorary CG

Honorary Consul General of Rwanda Farooq Aazam Khawaja has urged the business and industrial community to effectively explore the untapped and huge market of Africa that has a massive population of more than 1.25 billion in 55 countries.
Speaking at a meeting of Karachi Chamber of Commerce and Industry (KCCI), he expressed deep concern over lack of awareness about trade potential and lucrative investment opportunities in the African market.
"Recent reports by the World Bank, IMF, African Development Bank and other financial institutions around the world have been highlighting this promising market which offers countless trade and investment opportunities," he said, adding that China, India, France, Japan, EU, US and other countries have been taking keen interest in the African market as they fully realised its potential.
But, unfortunately, Pakistanis remained totally unaware of it and that was a matter of grave concern that this important market was being neglected not only by the government but also by the business community, he lamented and urged the business community to penetrate the African market.
Khawaja said that Rwanda was the third easiest country for business in the African region where Pakistani companies can register without any hassle in just a day. He said that it offers excellent business climate with no problems relating to electricity, infrastructure, sewerage, cleanliness and other industry-related facilities. Moreover, Rwanda Development Board provides one window operation to the business and industrial community which makes it very easier to run businesses in Rwanda.
"The business community can enhance trade and invest in different sectors of African economy including pharmaceutical, infrastructure, textile and many other sectors which will surely prove beneficial," he said.
He further said that Rwanda has been witnessing strong growth rate of 7 to 8 percent for past many years and every year around 900,000 visitors have been visiting this country where hotel occupancy remains above 90 percent. He said that a flood of opportunities exist in Rwanda that need to be attained.
Farooq Aazam Khawaja said that Rwanda is a member of East African Community (EAC) that also comprises of Burundi, Kenya, Tanzania and Uganda that means the goods being transited to any of these countries will have duty-free access to EAC member countries.
He said that travellers will not need separate visas to move from one EAC country to another.
"Although the relationship between Pakistan and Rwanda still remains at an infant stage, the two countries must hold regular bilateral meetings to examine and strengthen areas of co-operation," said Shamim Ahmed Firpo, president of the KCCI, in his remarks, adding that the two countries share healthy bilateral relations with bilateral trade is going smooth.
He said that during Fiscal Year 2016, Pakistan exported goods worth $14.6 million to Rwanda as compared to $4.8 million in Fiscal Year 2015 which was an appreciable rise but still very low. On the other hand, imports from Rwanda stood at $13.5 million in 2016 as compared to 13.8 million in the preceding year, he added.
KCCI president said that Pakistan and Rwanda's bilateral trade could be enhanced through agricultural products alongside electronics and mechanical appliances which were among top importing items of Rwanda therefore, Pakistan can export these products to Rwanda.
He stressed that collective efforts must be made to improve the existing trade ties between Pakistan and Rwanda with a special focus on enhancing people-to-people and business-to-business interaction whereas single country exhibitions and regular exchanges of trade delegations can also pave way for improved trade ties between the two countries.
Vice president KCCI Muhammad Younus Soomro and KCCI managing committee members were also present at the meeting.