British Prime Minister Boris Johnson has said that Rwanda is among countries expected to feature in the United Kingdom’s preferential trade system. Johnson was speaking at the closing of the Commonwealth Business Forum which concluded on Thursday in Kigali.
He said that the United Kingdom would on July 6 announce countries to feature in their new preferential trade system which among other things removes tariffs when exporting to the UK.
Rwanda and the United Kingdom have been negotiating the trade deal over recent months to establish future trade relations between the two countries.
The negotiations became necessary as Rwanda was previously trading with the UK under the protocols of the European Union. However, Britain ceased becoming an EU member.
Rwandans mostly export vegetables, fruits, flowers, and chili to the UK market, among other products.
The preferential system is likely to see Rwanda access the UK market without tariffs consequently reducing cost of doing business. This could have impacts such as increased production and value addition locally.
Johnson also expressed support for the African Continental Free Trade Area saying that it would bring prosperity to African states.
He also hailed Rwanda’s social economic progress noting that in Rwanda infant mortality is down by 80 per cent since 2000, 9 out of 10 Rwandans have health insurance, and all children are in school. Such, he said, were ambitions of the Commonwealth.
Following his meeting with President Paul Kagame, Johnson said that the UK is keen on continued partnership with Rwanda which is set to take over the Commonwealth Chair-in-Office working together closely to address the most pressing global challenges.
At the summit, Rwanda showcased investment opportunities such as Kigali International Finance Centre, mining, manufacturing, digital innovations in a wide range of sectors, as well as education.