India, Rwanda sign pacts; to ramp up business ties

Building upon their growing business synergy, India and Rwanda, a rising economy located at the crossroads of central and east Africa, have signed three agreements, including a pact on renewable energy, to ramp up trade and investment.

The pacts were signed after Minister of State for External Affairs Preneet Kaur held talks with Rwandan Foreign Minister Louis Mushikiwabo in capital Kigali.

The pacts envisage an expanded renewable energy cooperation and India helping to develop solar electrification of 35 schools in rural Rwanda. The two sides also signed an agreement for the establishment of a joint commission that includes consultations at the level of foreign ministers and senior diplomats.

Kaur also called on Rwanda’s President Paul Kagame.

During the visit, Kaur reiterated India’s commitment to setting up a Vocational Training Centre in Rwanda and other projects aimed at human resource development and capacity building. Kaur conveyed that the Indian government will support the Rwanda government in the establishment of an Entrepreneur Development Institute, the Indian external affairs ministry said in New Delhi February 17.

India has offered $80 million for a hydroelectric project on the Nyabarongo River in Rwanda.

Kaur she also met Rawanda’s agriculture minister and discussed projects to intensify co-operation in the aea of enhanced agricultural productivity and food security. Expanding trade and investment figured prominently in the discussions. A 22-member strong delegation accompanied Kaur on this important trip.

Shedding the baggage of genocide that killed millions two decades ago, Rwanda has morphed into one of Africa’s investor-friendly vibrant economies. The World Bank’s Doing Business Report (2010) ranks Rwanda as the top pro-business reformer in the world. It also ranks Rwanda top in East Africa in terms of ease of doing business.