The Rwandan government on Tuesday signed a hosting agreement with the African Export-Import Bank (Afreximbank), and the African Union for the second Intra-African Trade Fair (IATF2020) to take place in September next year in Kigali.
The agreement was signed on the sidelines of the four-day ongoing Transform Africa Summit which opened on Tuesday in Kigali, according to a statement issued by the Afreximbank.
The Minister of Trade and Industry Soraya Hakuziyaremye signed on behalf of the government, Benedict Oramah, president of the Afreximbank signed for the bank while Albert Muchanga, Commissioner for Trade and Industry of the African Union, signed for the organization.
The trade fair is slated for Kigali from Sep.1 to 7, 2020 organized by Afreximbank in collaboration with the African Union.
In his remarks, Oramah said the second Intra-African Trade Fair will target the execution of Intra-African trade deals worth more than U.S. $40 billion.
He added that the partners had set themselves the ambitious target of attracting more than 1,000 exhibitors and hosting over 10,000 buyers and conference participants from over 50 countries.
It will feature a trade and investment forum which will look at the practical challenges affecting the implementation of the African Continental Free Trade Area (AfCFTA) Agreement set to enter into force on 30 May 2019 and provide solutions on how to address them and exploit the benefits offered by the agreement, according to Oramah.
The first Intra-African Trade Fair was held in Egyptian capital, Cairo in 2018.
Minister Hakuziyaremye welcomed the choice of Rwanda as host and pledged Rwanda’s commitment to ensuring a successful event in 2020.
According to Muchanga, the partners had succeeded in creating a brand and the trade fair serves as a platform for sharing trade information.