KIGALI, Sept. 30 (Xinhua) -- Rwanda has set up a national committee that will promote cross-border trade through strengthening areas of transparency and fairness, good governance and modernization of the trade supply chain.
The national panel, dubbed National Trade Facilitation Committee (NTFC), was unveiled on Friday by the ministry of trade and industry in the country's capital, Kigali.
The committee has been introduced in line with the World Trade Organization pact, which aims at easing customs norms for faster clearance of goods to boost exports.
Speaking to reporters shortly after the launch, Francois Kanimba, Rwanda minister of trade and industry, said that trade facilitations have gained more importance with the reduction of tariffs and the proliferation of global production chains.
"The committee will play a key role in the coordination of implementation of the Trade Facilitation Agreement at national level. The panel seeks to simplify trade procedures and help promote cross-border trade and the overall climate for trade and investment in Rwanda," he added.
According to trade experts, the NTFC has a huge potential to reduce trade costs, thereby boosting trade between Rwanda and trade partners across the globe.
The Global Competitiveness report 2016/17 published by the World Economic Forum (WEF) early this week shows that Rwanda improved six positions to rank 52nd out of 138 countries globally. The country also remains third in Africa after Mauritius and South Africa.
