UAE, Rwanda to boost cooperation in industry, energy, space technology

Noura Al Kaabi, Minister of State, met with Paul Kagame, President of the Republic of Rwanda, in relation to the holding of the first session of the Joint Economic Committee between the UAE and Rwanda in the capital, Kigali, aimed at of enhancing prospects for cooperation and partnership between the two countries.

Al Kaabi underscored the historic ties between the UAE and Rwanda, founded on mutual endeavours across various levels, which reflect the two countries’ readiness to reinforce and develop relations that benefit both nations and their peoples.

She added, “The bilateral relations between the UAE and Rwanda have witnessed remarkable progress over the past years, demonstrating the leadership of both countries’ commitment to strengthen these bonds. The UAE and Rwanda are partners in trade and investment, and have expressed their keenness to attract further investments in emerging economic sectors.” The meetings were co-chaired by Noura Al Kaabi, Minister of State, on behalf of the UAE, and by Vincent Biruta, Minister of Foreign Affairs and International Cooperation of Rwanda.

The first session of the Joint Economic Committee was convened to strengthen prospects of cooperation and partnership across several sectors of common interest, including industry, energy, education, space technology, environment, human resources, culture, youth development, and supporting collaborative efforts to elevate trade ties to new heights.

Al Kaabi stated, “The first session of the Joint Economic Committee between the UAE and Rwanda is a continuation of cooperation over recent years to enhance bilateral relations, and explore new prospects of partnership within the business sectors, and across various economic domains.” She affirmed that the committee meeting conducted aims to set a framework and roadmap towards expanding opportunities and partnerships, to foster prosperous joint efforts and collaborations within various fields of common interest.

During the meetings, the two sides discussed new mechanisms to enhance coordination within economic areas, trade, and investment, in addition to strengthening cooperation and developing investment opportunities as part of the Double Taxation Agreements, and the Promotion and Protection of Investments Agreement.

Both sides highlighted their commitment to fortifying collaboration and enhancing investments in the space technology sector. Furthermore, they affirmed their keenness to develop opportunities in the trade of food products, environment and energy fields, economic empowerment of youth, and investing in expertise to reinforce technical and creative industries. In this regard, the two sides signed the MoU for cooperation in the field of education.

Last year, the Emirati-Rwandan Business Forum, organised by the Federation of Chambers of Commerce and Industry (FCCI) and hosted by the Sharjah Chamber of Commerce and Industry (SCCI), concluded on a high note with the signing of three agreements and memorandums of understanding.

The agreements aimed to strengthen partnerships and deepen joint economic relations between the UAE and Rwanda. They will provide more opportunities for investment cooperation in various sectors, raise the level of trade exchange, and find new paths of cooperation.

The first agreement, signed between the Rwanda Private Sector Federation (PSF) and the Federation of Chambers of Commerce and Industry (FCCI), aims to launch the first Emirati-Rwandan business council.

The council will represent businessmen and private sector representatives from both sides and express their aspirations and desires while achieving the desired goals of enhancing joint cooperation and increasing the volume of exchange, trade, and investment between the two countries.

The second memorandum of understanding brought together the Sharjah Chamber of Commerce and Industry and the Rwandan Businessmen Federation, while the third agreement was between the Emirates Businesswomen Council and the Rwandan Businessmen Federation.

The two agreements are set to enhance the exchange of information and trade delegations between the two sides, which will contribute to the consolidation of economic relations and stimulate the flow of investments in both countries.

The event was attended by high-profile officials including Sheikh Majid Bin Faisal Al Qasimi, First Deputy Chairman of SCCI, Hazaa Mohammad Al Qahtani, Ambassador of the UAE to Rwanda, Emmanuel Hategeka, Ambassador of Rwanda to the UAE, and HE Waleed Abdul Rahman Bukhatir, Second Vice Chairman of the Board of Directors, SCCI, Eng. Farida Al-Awadi, Chairperson & President UAE Emirates Business Women’s Council, along with a number of SCCI and FCCI board members.