The agreement, formalized at the 2024 Lagos International Trade Fair, was signed between the Lagos Chamber of Commerce and Industry (LCCI) and Rwanda's Private Sector Federation (PSF) on the sidelines of the ongoing trade event in Lagos. Kanamugire Callixte, Deputy CEO of PSF Rwanda, and Gabriel Idahosa, President of the LCCI, represented their respective organizations at the signing ceremony.
Under the MoU, LCCI and PSF Rwanda will collaborate in several areas, including facilitating trade by streamlining procedures, reducing barriers, and promoting the exchange of goods and services between Nigeria and Rwanda; and promoting investment by identifying opportunities in both countries, organizing trade missions, and fostering business partnerships.
Other priority areas include sharing information by exchanging data on market trends, trade regulations, and investment incentives to aid business decision-making; building capacity through joint workshops, training programs, and knowledge-sharing initiatives to enhance business competitiveness in both countries; and hosting events to organize trade fairs, exhibitions, and business forums for networking and partnership-building.
The MoU identifies specific sectors for collaboration, such as agriculture (with a focus on Rwandan coffee and tea production), energy, manufacturing, technology, and creative industries.
Rwanda's High Commissioner to Nigeria, Ambassador Christophe Bazivamo, praised the agreement as a testament to the two countries' shared vision of prosperity.
'This MoU is a testament to our shared visionâ€"a vision of a vibrant and interconnected African business landscape where Rwanda and Nigeria stand as beacons of economic collaboration and mutual growth,' he said.
'The Rwandan government is fully committed to supporting this endeavour. We have implemented policies to streamline business procedures, enhance infrastructure, and promote a conducive investment climate.'
The Lagos International Trade Fair, which kicked off on November 1, 2024, is the largest international exhibition in West Africa. During the 10-day event, participants have a chance to network with potential buyers and create business partnerships.
Wycliffe Nyamasege
