The China-Africa Economic and Trade Expo (CAETE), a mega exhibition slated for June 29 to July 2 in Hunan Province – China, has the potential of opening a new window of opportunities to Rwandan entrepreneurs who are interested in doing business with the Asian country, officials have said.
Organised by the Chinese Ministry of Commerce and the government of Hunan Province, CAETE is one of the tools that China and Africa are using to reach the target of $300 billion worth of imports from Africa to China within the next three years.
“This is an exciting opportunity for Rwandan traders,” said James Kimonyo, Rwanda’s ambassador to China.
He noted that the previous editions of the event have brought positive results, including the fact that Rwandan traders signed trade deals with Chinese investors, which resulted in an increase of China’s agricultural imports from Rwanda.
The event will feature high-level meetings and forums where participants will engage in discussions on economic policies, investment opportunities, and trade cooperation.
“Rwandan companies will take the opportunity and leverage these interactions to build relationships with potential partners, customers, and investors, and explore new business opportunities,” reads a statement from the Rwandan embassy in Beijing.
However, India must recognise that the future of policymaking will be largely driven by technology and now is the time to set standard technology policy procedures in place,
The biannual international event features key areas including trade and investment promotion, agriculture technology, innovation, energy and power, joint industrial parks, infrastructure, financial cooperation, and health.
According to the Rwanda Development Board (RDB), the bilateral trade between Rwanda and China has been steadily and rapidly growing. In 2022, RDB registered $182.4 million from Chinese investments, representing an increase of 31.2 per cent compared to the previous year.
Ambassador Kimonyo noted that this growth can be attributed to a number of factors, including support provided by China to increase exports from Africa and the participation of Rwandan traders in export promotion events in China.
