Rwanda And Zambia Sign Seven Memorandums of Understanding
On Monday, representatives from Rwanda and Zambia signed seven Memorandums of Understanding (MoU) outlining joint cooperation between the two countries on a range of issues.
Zambian Minister of Foreign Affairs and International Cooperation, Stanley Kakuko, and Rwanda’s Vincent Bituta signed the agreements for their respective countries.
Both the President of Rwanda, Paul Kagame, and President Zambia,Hakainde Hichilema witnessed the signing ceremony.
The first two MoUs outline bilateral relationships with regard to trading and investment cooperation. The first one outlines a promotion of cross border trade, investment, industry and private sector development facilitated through the partnership. The second further stimulates these aspects of the economy.
The following two MoUs outline joint partnerships with regard to the environment. The third MoU looks to establish bilateral relations in the domain of agriculture, agricultural research and development as well as a technology transfer. Further, the fourth looks to develop relations on fisheries and livestock, specifically looking to enhance animal feed.
The fifth MoU encourages participation between the two countries to ensure movement between the regions, the prevention of crime, illegal migration and developments in the deportation process and procedure.
Finally, MoU six outlines a mutual administrative agreement between the Rwandan and Zambian Revenue Authorities to restrict infringement of tax laws and enable electronic data exchange system to enhance trade.
Following the signatures, the President Kagame and President Hichilema are due to hold a State Banquet.
With Rwanda’s recent prospering economic performance - pre-pandemic annual GDP growth was 9.5% before the pandemic, alongside its deepening global economic presence - the deal offers new opportunities between the nations. Further, the agreements mark another policy implemented by the New Dawn government to boost Zambia’s economic development.