In their fifth meeting of the Trade and Investment Framework Agreement (TIFA) Council, Rwanda and the United States discussed several mutually reinforcing strategic objectives to provide a mutually beneficial framework to guide the U.S.-Rwanda Trade and Investment relationship moving forward, including:
(1)Maximizing the remaining years of the African Growth and Opportunity Act (AGOA);
(2)Strengthening commercial cooperation; and
(3)Developing short-term solutions to reduce barriers to trade and investment.
During the TIFA Council meeting, Rwanda and the United States agreed to renew bilateral engagement that will increase economic growth and commercial relations between Rwanda and the United States. Both sides also agreed to examine constraints to exporting under AGOA, and to identify other potential areas of collaboration to ensure that trade can substantially grow under this framework while focusing on quality compliance and capacity building in other sectors.
Rwanda and the United States intend to work together to strengthen commercial cooperation, including by helping identify commercial transactions and investment opportunities for U.S. and Rwandan businesses. The two sides discussed the establishment of an American Chamber of Commerce in Rwanda to promote trade and investment between Rwanda and the United States.
Both sides discussed ways to deepen the regional trade and investment relationship between the East African Community and the United States, and agreed to explore ways to work together to support the negotiation and implementation of the African Continental Free Trade Area.
The delegations to the TIFA Council meeting were led by the Assistant U.S. Trade Representative for Africa Constance Hamilton, and the Rwandan Minister of Trade and Industry, Soraya Hakuziyaremye and included representatives from U.S. and Rwandan government departments and agencies. Both countries agreed to hold regular discussions to meet the objectives outlined in the TIFA Council meeting.