2.2.2.2. Opportunities of
trade sector
Opportunities in the trade and investment are numerous with
strong potential for Rwanda to become a regional trade hub; Rwanda has a
strategic central location and tremendous asset of both a common language and
multilingualism with both international languages. Integrated Framework in its
diagnostic trade integration study identified the barriers to trade of which
are to be solved by a number of projects to be formed to overcome these
barriers so as to attain the economic growth. Rwanda shows its commitment to
trade in the action of integrating trade into poverty reduction strategies and
enabling it to be an engine for economic growth.
Rwanda's fertile soils and good climate favor the growth of
various types of crops throughout the year and this enables the development of
commerce of agricultural products. Availability of marshlands, these too favor
growth of various crops and assist in irrigation of dry places. Rwanda has
numerous water bodies (lakes, rivers) which need to be fully exploited in order
to develop fishing industry. The fish market prospection in the neighbouring
countries show market opportunity for our fish products.
The opportunity of having research institutions e.g. ISAR,
KIST, IRST which have done a number of researches in agriculture and scientific
technology; many of these researches are market oriented and enables us to
access new clients and overcome supply constraints.
Availability of skilled and semi-skilled labour in the country
allows different types of people to be employed in many of the existing sectors
and then lead to economic development. Prevailing peace and security in the
country presents a strong opportunity for trade development as the business men
carry out their activities without fear of robbery or any other security risk.
Trade also is favoured by the existence of good governance especially the
establishment of ombudsman that helps in fight against corruption in all
sectors.
Rwanda is already a member to Common Market for Eastern and
Southern Africa (COMESA) and its free trade area and able to access the whole
market without any barriers to trade. Rwanda is also ready to benefit from
various blocks like Economic Community for Central African States (ECCAS),
African Growth Opportunity Act (AGOA), African Union (AU), World Trade
Organisation (WTO), European Union (EU), bilateral trade arrangements, etc
offers Rwandan internal traders an opportunity for easy access to foreign
markets.
The Government's commitment to private sector development
makes it an opportunity for trade development, as there are initiatives of
creating conducive environment for trade. Establishment of the trade point
which will provide all trade related information; this becomes an opportunity
as trade information will be easily obtained in one place. Permanent national
trade fair ground creates an opportunity for trade development as it will give
business men a chance of regular expositions which will help them in sell and
advertisements of their products.
Establishment of business development centres (BDC) which will
facilitate easy coordination of business activities in rural areas is one of
the major factors of trade. Government's initiative in cooperatives development
creates an opportunity for trade development for from a strong cooperative
movement trade is improved.
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