Thaindian News

Bangalore, Oct 25 (IANS) The eastern African country of Rwanda Monday entered into three agreements with associations in Karnataka for investment and trade promotion between Rwandan and Indian enterprises and businesses.

The Rwanda Private Sector Federation signed the agreements with the Federation of Karnataka Chamber of Commerce & Industry (FKCCI), the Karnataka Small Scale Industries Association (KASSIA) and the All India Granites & Stone Association (AIGSA).

Rwanda federation vice-chairman Mbundu Kananura Faustin signed the memorandum of understandings (MoUs) with FKCCI president N.S. Srinivasa Murthy, KASSIA president S.S. Biradar and AIGSA president J.B. Surana on the occasion of Rwanda Investment Roadshow here, co-organised by the Federation of Indian Chambers of Commerce & Industry (FCCI) and the Rwanda Development Board with the Rwanda High Commission.

The agreements were signed in the presence of Rwanda Minister for Infrastructure Karega Vincent, Rwanda High Commissioner in India Williams Nkurunziz and FICCI Karnataka State Council chairman Sajan Poovayya.

As the state-level apex body of industry, trade and commerce across Karnataka, the FKCCI will facilitate Indian investors and entrepreneurs to explore trade and business opportunities in Rwanda. The chambers will also facilitate partnerships, joint ventures and setting up of wholly-owned subsidiaries in Rwanda spanning agriculture, manufacturing and services.

The FKCCI has about 100,000 members representing diverse sectors of the economy, including manufacturing, food-processing, retail, transportation, energy, infrastructure and a host of services.

The agreement with KASSIA will facilitate vocational training and skill development of Rwandan workforce engaged in small and medium enterprises (SMEs) by the association’s members.

“We will set up an implementation cell to provide hands-on experience to Rwandan people in agro-processing, machine tooling, and operating foundries through workshops, assembly lines and shop floors,” Biradar told IANS on the margins of the event.

Though about 80 percent of the 11-million Rwandan people are dependent on agriculture, the Rwandan government has embarked on an ambitious programme to usher in industrial growth in a big way for transforming the country into a manufacturing hub by 2020 in the region surrounded by Uganda, Tanzania, Burundi and Congo.

The agreement with AIGSA will enable the Rwanda private sector to develop the granite and stone industry through collaboration, partnerships and joint ventures in exploration, prospecting and mining the mineral wealth in the country.

“We are committed to bridge the gap between the urban and rural areas in every sphere of socio-economic activity and improve the qualify of life for our people by providing education, healthcare, infrastructure, housing, connectivity, transportation, energy and value added services,” Vincent said on the occasion.