Rwanda, S. Korea seek to cement ties

The governments of Rwanda and Korea have pledged to maintain the sharing of practices mutual partnership in the fight against poverty. The forum was part of the activities to mark 50 years of the two countries’ cooperation.In a roundtable forum last week, a delegation of private and government officials from Korea engaged Rwandan officials on the best way forward for policies and trade incentives that fast track development.Clare Akamanzi, the Chief Operations Officer of Rwanda Development Board, told journalists at the forum that as Rwanda strives to achieve its aspirations, it seeks to learn from best practices, such as the Korean development model, which advanced the Asian country from one of the poorest to one of the leading economies in the world.“A slight look at history of the two countries shows similarities in their geopolitical situation and development aspirations and, therefore, emphasises why Rwanda should reinforce its cooperation with Korea,” Akamanzi said. Learning from Korea“Therefore taking this opportunity of the 50th anniversary of diplomatic ties with Korea, it will be meaningful and mutually beneficial to look deep into the path and strategies undertaken by Korea to see if we can apply them in our national development strategy.” The Ambassador of Korea to Rwanda, Soon-Taik Hwang, said that Rwanda has the potential to boost its development and eradicate poverty, like Korea did.“Korea was one of the poorest countries in the world with only US$64 per capita income in the 1950s. This was almost the same situation like Rwanda after the 1994 Genocide against the Tutsi, where the reconstruction of the country had to start from zero,” Soon-Taik said.“But now after only 19 years, Rwanda’s GDP annual growth rate averages 8 per cent, with a target of 11.5 per cent by 2017, aided by strong reforms and policies in investment. This shows that there are strong reasons for the two countries to cooperate in order for Rwanda to reach the desired middle income status.”Rwanda has been a destination for Korean investments in the past, the latest being shareholders agreement between the government and Korea’s largest telecom, Korea Telecom to establish a US$140 million high-speed broadband network to cover 95 percent of the population in three years.

National

Rwanda, S. Korea seek to cement ties