Rwandan officials are looking to persuade Chinese companies to invest in the country at the second edition of China-Africa Economic and Trade Expo (CAETE) that kicked off on Sunday, October 26 in Hunan Province of China. Organized biannually by the Chinese Ministry of Commerce (MOFCOM) and the Government of Hunan Province, the event is considered to be the most important exhibition within the framework of China-Africa Cooperation. It brings together African countries and top Chinese leaders, economists and business people, focusing on key areas including trade, tourism and investment promotion, agriculture technology, innovation, energy and power, joint industrial parks, infrastructure, financial cooperation, health and so on. During the inaugural edition of the event that took place in 2019, Rwanda participated successfully, as, for example, the Gashora Farms secured a USD 500 million deal to export dried chili to China. For this year’s CAETE, Rwanda was invited as one of the “Guest Countries of Honour,” which gives it a platform for more visibility and media coverage. Speaking to The New Times about Rwanda’s expectations at the second edition of the expo, James Kimonyo, the Rwandan envoy to China said it is not only an opportunity to showcase goods and services, but also to attract investors. “It is a platform for us to present the investment opportunities in Rwanda, to attract potential investors,” he said. “Yes, we have the market (in China) for products like chili and coffee, but do we have enough quantities to supply this massive market? So, we want to encourage Chinese to invest in the supply side, by expanding local firms and bringing in technology, so that we will get enough products to take to the Chinese market.” The expo also comprises meetings with policy makers, economists and other influential people – which, according to Kimonyo, presents an opportunity to showcase to them the reforms that the country has put in place in terms of improving the investment climate. Due to Covid-19, many people from Rwanda could not travel to China, but sent their products there to be showcased with the assistance of the embassy and some other Rwandans living in the Asian country. Among the products to be exhibited by Rwanda are: coffee, chili, tourism services, avocado oil, tea and so on. During one of the forums of the expo, Rwanda’s Minister of Trade and Industry Beatha Habyarimana will deliver a keynote speech on September 27, where officials will be discussing the impact of the Covid-19 pandemic on China-Africa production capacity cooperation, among other topics. Hunan, the province where the expo will take place, is very key to China’s economy. With a GDP of more than USD 600 billion, Hunan ranks in the top 10 among Chinese provinces and boasts 10 competitive industrial clusters including agro-processing, construction machinery, electronics, new materials, automobiles and parts and mining. Recently, on behalf of the City of Kigali, the Embassy of Rwanda to China signed a letter of intent with Hunan Province, aimed at deepening economic cooperation between the two sides with industrial development, education and so on.
