The High Commissioner of Rwanda, called on Federal Minister for Commerce Jam Kamal Khan, discussed the opening of new trade markets and strengthening bilateral ties between the two nations.
This meeting marks a significant milestone as Rwanda’s first High Commissioner to Pakistan aims to foster economic cooperation following the establishment of Rwanda’s embassy in Islamabad.
Highlighting the economic potential of Rwanda, the Commerce Minister observed that while direct trade with Pakistan has yet to be established, Rwanda’s growing GDP is comparable to that of Ethiopia. This makes it an attractive market for bilateral engagement.
Minister Jam emphasized the need for a broader East African Community (EAC) trade forum in Islamabad, suggesting that the event could be Co-chaired by the President of the EAC and Prime Minister Shehbaz Sharif ,attended by trade ministers from member states.
“There is tremendous scope for mutual trade benefits. For instance, Rwanda could export tea to Pakistan, while Pakistan can supply rice to Rwanda,” noted Minister Jam Kamal Khan.
He proposed identifying key business areas and bringing together stakeholders under Pakistan’s “Look Africa Policy.”
Expanding Trade Opportunities
The minister highlighted opportunities in sectors like power, agricultural machinery, food, and pharmaceuticals.
He suggested fostering collaboration between the chambers of commerce of Rwanda and Pakistan to facilitate matchmaking among business communities.
He also stressed that a high-level interaction involving heads of states would be pivotal for strengthening ties.
Minister Khan proposed that during the planned EAC Business Forum, multiple Memorandums of Understanding (MoUs) and agreements could be signed, paving the way for long-term partnerships.
Exploring Niche Markets
Rwanda’s High Commissioner expressed interest in Pakistan’s electric bikes and the automobile sector, signaling a new avenue for bilateral trade.
The minister informed her of Pakistan’s significant strides in mobile phone manufacturing, with 13 companies currently operating in the sector. Additionally, he pointed out Pakistan’s expertise in electric bikes, footwear, and textiles, all of which could be promising industries for trade with Rwanda.
“Pakistani tractors, known for being both cost-effective and energy-efficient, are already making an impact in Africa. These could be a valuable export to Rwanda,” the minister added.
Both sides reiterated their commitment to exploring new markets and enhancing economic cooperation.
Jam Kamal pledged to write to EAC member states and the President of the EAC to ensure the proposed business forum becomes a reality.
The meeting underscored the potential for Pakistan and Rwanda to establish a dynamic trade partnership, leveraging each other’s strengths and opening new avenues for economic growth.
