In 2017, the Pakistan Ministry of Commerce introduced the ‘Look Africa Policy Initiative’ to help boost trade relations between Pakistan and Africa. The policy initiative was a clear indication of Pakistan’s willingness to foster close economic cooperation with the African continent, especially with states located in the Horn of Africa. The Horn of Africa has a strategic proximity to the Gulf of Oman and Pakistan’s newly developed Gwadar Port, making it an important trading partner.
Therefore, since 2017, Pakistan has prioritized building close ties with the African continent by enhancing business and trade relations with African countries. However, over the years, one country has stood out for increased economic collaboration with Pakistan: Rwanda. Rwanda has emerged as Pakistan’s key trading partner in East Africa despite being a landlocked country bordering the states constituting the Horn of Africa. As a consequence, the leaders of both states, too, have increased engagement.
Growing Engagement and Visits
In January this year, the Rwandan High Commissioner, Harerimana Fatou, took on board the business leaders at the Karachi Chamber of Commerce (KCCI) for investment and trade opportunities in Rwanda. Speaking at a meeting, she emphasized the liberal nature of Rwanda’s economy, where opening a business is very easy. She also pointed out that a business can be set up within two hours through the Rwanda Development Board, with visa-on-arrival facilities also available at Rwandan airports.
For Pakistani citizens travelling to Rwanda, there is not visa required for a stay up to thirty days. This relaxation makes Rwanda a very attractive destination for businessmen who can travel to the country, explore the markets, and do cost and benefit before returning back and formalizing business and investment plans. A thirty days no visa is one of the most liberal visa regimes put in place by Rwanda for Pakistani citizens.
Furthermore, the Rwandan Foreign Minister Olivier Jean Patrick also paid a visit to Pakistan in late April and met his counterpart, Ishaq Dar. Both sides expressed satisfaction with the progress of bilateral relations and further reaffirmed their commitment to enhancing cooperation across multiple sectors such as trade, defense, technology, and diplomacy. During the meeting of both leaders, Ishaq Dar acknowledged that Pakistan was a key importer of Rwandan tea and that the country was set to explore further opportunities to increase the imports of other products such as coffee, avocados, pulses, and horticulture goods.
Read More: Rwanda High Commissioner Joins African Envoys at Business Africa Forum
Rwanda’s exports to Pakistan currently stand at $26 million, whereas Pakistan’s exports to Rwanda reach $100 million. These numbers reflect the growing efforts by both states to enhance their trade relations. Another such effort came in early October when the Rwandan High Commissioner Harerimana Fatou met the Pakistan Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhary to explore new maritime trade corridors linking Karachi port to the states in the East African Community (EAC). The minister said that this development would enhance Pakistan’s connectivity to the Horn of Africa and increase annual bilateral trade.
A Future Full of Opportunities
Pakistan’s growing economic footprint in Africa, and Rwanda in particular, presents business leaders, entrepreneurs, and investors in Pakistan new business and investment opportunities. The growing population of Rwanda, along with its vast resources and easy terms for setting up a business, puts it on the top of the list of investors and entrepreneurs seeking to grow their businesses and expand their investment portfolio.
In this respect, the Rwanda High Commission in Pakistan has organized a virtual meeting, to be held on 6th November at 2pm, for interested parties in both states to explore business opportunities and venues for further economic collaboration between the business communities of both Pakistan and Rwanda. The meeting will provide insightful analysis on investment opportunities, business climate and ease of doing business, fiscal and non-fiscal incentives for investors, and challenges and pathways for enhanced bilateral trade and cooperation between the two states.
The meeting, therefore, would be a great resource of knowledge to anyone in the business community interested in collaborating and taking advantage of the opportunities presented by the combined efforts of governments in both Pakistan and Rwanda.
Muhammad Omer Rafiq
Muhammad Omer Rafiq is a student of politics with a passion for making sense of our tumultuous political world that always seems to be on the edge. He recently graduated in International Relations from Lahore Garrison University. He can be reached at muhammadomerrafiq@gmail.com
