Egypt’s Trade and Industry Minister Ahmed Samir said on Monday that the Central Bank of Egypt (CBE) and its Rwandan counterpart are studying ways to settle payments within the framework of a barter deal mechanism between both countries.
This is meant to give inter-trade a shot in the arm, Samir said during a meeting with Rwandan Ambassador in Cairo Alfred Gakuba Kalisa.
The meeting took up means of boosting economic and trade co-operation between the two African countries in the coming stage.
Minister Samir and the Rwandan diplomat also discussed a number of issues of mutual concern.
Egypt and Rwanda are working to increase the rates of inter-trade and the number of visits by business delegations from each country to the other, a statement by the Trade and Industry Ministry said.
He pointed out that Egyptian exports to the Rwandan market increased during 2022 by 34.3 per cent to $55.5 million, compared to $41.3 million in 2021. The most prominent items of Egyptian exports to the Rwandan market included paper, food, medical and oil products.
Kalisa said that the Rwandan capital, Kigali, will host an international exhibition next August, inviting the minister to visit the exhibition, since a number of Egyptian businessmen will take part in the exhibition’s pavilions. This, in turn, contributes to strengthening co-operation between the business communities of the two countries.
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