Rwanda Eying Canadian Market to Boost Export Revenues, Reports KT Press

Rwanda is mobilizing local exporters to venture into selling Rwandan products to Canada, an initiative that is expected to boost the country's trade deficit.

KIGALI, RWANDA, February 24, 2015 /24-7PressRelease/ -- Rwanda is mobilizing local exporters to venture into selling Rwandan products to Canada, an initiative that is expected to boost the country's trade deficit.

Trade, investment and cultural exchanges between the two countries are facilitated through the Canada-Rwanda Board of Trade, a not-for-profit organization.

Currently Rwanda exports tea, coffee and dairy products, especially produced by Inyange Ltd, a local manufacturer.

Although Rwandan products are on demand in the Canadian market, in 2014, Rwanda exported only 3% of the overall exports to Canada.

Europe was biggest market with 41% of exports, 21% to East Africa, 16% to Asia and Australia, then 14% to DR Congo.

The low exports to Canada, yet a vividly potential market, is caused partly by the lack of export companies and cargo services in Rwanda and Canadian importers.

Eseube Muhikira, Acting Head of Trade and Manufacturing at Rwanda Development Board told KTPress the government is engaging exporters to venture into the Canadian market which is in great need of Rwandan products.

He said the government is also facilliatting with information about the quality and standards of specific products needed by Canada.

Meanwhile, Emmanuel Muhawenimana, a trade and investment officer representing Rwanda in Canada, said agricultural products such as cassava flour, eggs, coffee and tea are on demand on the Canadian market.

Muhawenimana told KTPress Rwandan products are highly priced in Canada, due to their good quality, such as Isombe (crashed cassava leaves), largely consumed by Africans living in Canada.

Also, he said, minerals and art crafts are on high demand in Canada, but their supply is minimal.

Meanwhile, in 2014, Rwanda's export sector recorded moderate performance, export value increased by 4.7% standing at $559.8m from $573m in 2013.

The country is currently seeking various ways of facilitating local exporters to access global markets to boost exports revenues.

"It's not just Canada, throughout the year we will build capacity among exporters to take on global ventures," says Muhikira.



---
Press release service and press release distribution provided by http://www.24-7pressrelease.com