Rwanda and Ghana have signed a Memorandum of Understanding that will see the two countries strengthening trade and economic cooperation.

The agreement was signed on Friday January 28 between the Minister of Trade and Industry Beata Habyarimana and her Ghanaian counterpart Alan Kwadwo Kyerematen.

The signing took place on the sideline of the 8th Ministerial Council Meeting on the Africa Continental Free Trade Area (AfCFTA) happening in Accra-Ghana.

According to officials, all stakeholders are ready to implement the MoU and significantly enhance bilateral trade and economic cooperation, which has been low despite the good relationship between the two countries.

During the signing ceremony Minister Habyarimana said that the MoU will serve as a blueprint for continued bilateral cooperation in the framework of the AfCFTA.

The signing of the MoU denotes the practical steps that will allow our private sector and citizens to realize the gains and benefits of the continental free trade, she said, adding that it is incumbent for the two countries to fast-track their economic links.

On his part, Minister Alan Kyerematen said that the agreement will aim at expanding and diversifying commercial exchanges among private sector operators from both countries.

"We envisage that through this MOU, Ghana can become an entry point for Rwandan investments within the West African sub-region whilst Rwanda on the other hand, can become a strategic entry point for Ghana into the Central and Eastern African Markets.” He added.

Rwanda and Ghana have long-standing diplomatic ties where Rwanda established its first resident High Commission in Ghana in 2019, and a year before the two countries had signed a bilateral air service agreement to boost transport connectivity, where the national carrier- Rwandair operates three flights per week to Accra.

The two countries have also been exploring opportunities to increase cooperation in the areas of tourism and education among others.