Rwanda has steadily grown as a business partner with Turkey, with trade value increasing from the US$ 32.4 million to US$ 81 million US dollars between 2019 and 2020.
The Economic Council connecting the private sector of Turkey and Rwanda has gathered in Istanbul, where a delegation from the Private Sector in Rwanda (PSF) is showing Turkey investors the business opportunities in Rwanda.
Turkey-Rwanda Business Forum
The meeting was organized in cooperation between the PSF and the Department of the Private Sector in Turkey for Foreign Affairs known (DEIK).
Robert Bafakulera the Director of the Private Sector in Rwanda who led the delegation said that they were in Turkey to convince Turkish businessmen and investors to come and invest in Rwanda.
“I would like to assure Turkish investors and businessmen that this is a great opportunity to do business in Rwanda. We are here looking for business and investment opportunities and we are ready to give you all the assistance that you need.” He said
He further went on to explain that the meeting should be an opportunity between the private sectors to discuss and initiate permanent cooperation in terms of trade and investment.
This visit takes place at a time when Rwanda and Turkey already have relations at different levels.
As of April 2017, Rwanda and Turkey signed an bilateral cooperation among others in agriculture and animal husbandry, which was signed by the Turkish Minister of Agriculture and Animal Husbandry Faruk Celik, and the Ambassador of Rwanda in Turkey Williams Nkurunziza
The two countries agreed to implement the contents of the agreement in 13 different sectors, including the development of the value chain for agricultural and livestock products, small scale processing industries and storage technology.
Trade value between Rwanda and Turkey has increased from 32.4 million US dollars in 2019 to 81 million US dollars in 2020. In the first half of 2022, Turkey’s investment reached 173 million US dollars, double the 79 million US dollars in 2021.
Turkish investment in Rwanda exceeds 400 billion US dollars, and according to figures from the National Development Agency (RDB), Turkey provided more than 13% of international investment in Rwanda in 2020.
Since 1992, Turkey has given over 200 scholarships to Rwandan students in different professions.