Pakistan, Rwanda eye wider trade ties

Pakistan-Africa Economic Council Patron-in-Chief Hamid Asghar Khan has said that the upcoming Rwanda-Pakistan Business and Investment Forum will play a pivotal role in strengthening bilateral economic and trade relations and opening new avenues for investment between the two countries. Speaking at a press conference at the embassy of Rwanda ahead of the departure of a Pakistani business delegation for Rwanda, he said the forum, scheduled to be held from September 23 to 25, would provide an important platform for Pakistani businesses to explore investment, trade and joint-venture opportunities in the East African country. Hamid Asghar said the Pak-Africa council fully supported the forum and the visit of the Pakistani delegation to Kigali, describing it as an important step towards enhancing Pakistan's economic engagement with Rwanda and the wider African region. He said the Global South was emerging as an increasingly important economic force, while Africa had significant potential to contribute to competitive growth, investment and shared prosperity. Pakistan, he added, needed to make greater use of the opportunities offered by the rapidly developing African economies. The "Look Africa" policy was a positive beginning, but sustained political will and stronger engagement at the government and private-sector levels were required to deepen economic relations with African countries. Referring to Rwanda, he said the country had established itself as a competitive and business-friendly economy, with factors including security and stability, skilled human resources, land availability, energy access and a conducive operating environment creating opportunities for international investors. He identified pharmaceuticals, agriculture and food processing, information technology, manufacturing and employment generation as promising areas for enhanced cooperation between Pakistan and Rwanda. Hamid Asghar said Rwanda's sustained economic growth had created a range of opportunities for Pakistani investors and businesses. Pakistani companies, he added, could explore partnerships, investment projects and joint ventures in Rwanda to promote bilateral trade and economic cooperation. He noted that East African economies, including Rwanda, were attracting growing international interest, and Pakistani businesses should actively evaluate emerging opportunities in the region. The Pakistani delegation will hold meetings with Rwandan government institutions, business leaders, investors and private-sector representatives during its visit. Discussions are expected to cover trade and investment, joint ventures, technology cooperation, manufacturing, agriculture, pharmaceuticals, IT and other areas of mutual commercial interest.