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Rwanda, DR Congo sign major deal to boost cross-border trade

Xinhua, October 21, 2016 Adjust font size:

Rwanda and the Democratic Republic of Congo (DR Congo) on Thursday signed a duty free trading deal that seeks to promote cross-border trade between two countries.

The Comesa Simplified Trade Regime (STR) agreement that was penned between Rwandan and DR Congo government officials will do away with unnecessary barriers to cross-border trade between two neighboring states.

According to the agreement, Rwanda and DRC agreed on the list of 168 commodities exonerated from paying import duties not exceeding 2,000 U.S. dollars.

Goods commonly traded between two countries are agri products, animal feed and grains, bakery products, construction, audiovisual and recreational equipment.

Speaking to reporters shortly after signing the agreement, Francois Kanimba, Rwanda minister of trade and industry, said that it was a milestone for small scale traders from both countries to trade freely without any barriers.

"We are committed to improve and promote cross-border trade between our country and the rest of the countries in the region. This is part of promoting tripartite free trade area across Africa," he noted.

Kanimba stated that with this trade pact, trade between Rwanda and DR Congo is going to significantly increase which will boost the growth of both countries' economies.

Nefertiti Ngudianza Kisula, DR Congo minister of commerce, said that DRC and Rwanda relations were growing strong.

"DRC and Rwanda marginalized traders have been given green light to maximally utilize market opportunities existing between two neighboring countries. DR Congo is committed to implement Comesa simplified trade regime and promotion of commodity-based trade (CBT) with immediate effect," emphasized the minister.

The agreement has become a relief to about 30,000 to 45,000 traders who cross Poids Lourd Border Post between Rwanda and DRC on daily basis in small scale trade, according analysts.

Research by both countries shows that small scale traders have for many years continued to face challenges like paying to get their goods cleared and a crippled business environment as a result of political standoff between the two countries.

The deal is considered by most traders as a convenient procedure, which offers them quick facilitation through establishment of trade information desks at the border posts. Endit