Mid this month, the International Trade Centre (ITC) will celebrate its 50th anniversary by holding the World Export Development Forum (WEDF) in Kigali. The venue for the international fair – the first time it is held on the continent – is very significant. It is a vote of confidence from the international trade fraternity. One of the main reasons put forward by the head of ITC was that Rwanda had the most impressive business reforms, but that is just the tip of the iceberg. At a time when many countries are reeling under the weight of harsh economic times, Rwanda seems to be sailing smoothly. Its inflation for August dropped to 0.9% mainly fueled by a reduction of food prices. But that is not the end of the story, its heavy investment in Small and Medium Size Enterprises (SMEs) is starting to pay off, and the hosting of the WEDF should help startups network with global players and focus on adding value to their products. It will be an open door to the outside world where economies of scale are the main factor in driving countries forward. It should be an opportunity to learn and exchange best practices and knit partnerships. As the country has defied many odds in the past, our local business should learn from the experience.
