Rwanda,Nigeria strengthen economic ties with new trade partnership

The Lagos Chamber of Commerce and Industry (LCCI) Nigeria and Rwanda Private Sector Federation (PSF) have signed a Memorandum of Understanding (MoU) aimed at boosting trade, investment, and business partnership between the two countries.

This agreement was formalized during the 2024 Lagos International Trade Fair, a testament to both nations’ commitment to fostering mutual growth.

Maureen Chukwura, Head of Communication at the Rwanda Embassy in Nigeria, emphasized the importance of this partnership, noting that it marks a new chapter for business and trade between Nigeria and Rwanda.

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Gabriel Idahosa, President of the LCCI, and Kanamugire Callixte, Deputy CEO of PSF Rwanda, represented their respective organizations at the signing, underlining a shared vision of a connected African economy.

“This MoU is a testament to our shared vision—a vision of a vibrant and interconnected African business landscape where Rwanda and Nigeria stand as beacons of economic collaboration and mutual growth,” stated Rwandan High Commissioner to Nigeria, Ambassador Christophe Bazivamo.

The agreement outlines strategic cooperation in areas such as agriculture, energy, manufacturing, technology, and creative industries.

Particular focus will be placed on Rwanda’s coffee and tea production, reflecting a commitment to promote signature exports from each country. Planned activities include organizing trade missions, B2B meetings, and mutual participation in trade fairs, with initial virtual meetings expected to start early in 2025.

This partnership also emphasizes capacity-building initiatives, as both organizations will work to share valuable market insights and facilitate workshops.

According to the embassy, these efforts aim to streamline trade procedures and promote investment, ultimately opening new markets and creating job opportunities.

With both countries committed to creating an enabling environment for business growth, this collaboration highlights the potential for a stronger economic bond in the African region.