Nyaruguru district to get a cross-border trade complex
Rwandaâ€™s Minister of Trade and Industry (MINICOM), FranÃ§ois Kanimba, on Friday laid a foundation stone for construction activities of a cross-border trade complex to be put up at Akanyaru River border post.
The new complex will arrest informal trade among Rwanda-Burundi border communities.
â€œThe cross-border trade complex will facilitate much more importsâ€™ flowâ€, said the MINICOM boss.
The three-part cross border trade complex will comprise of a main building â€“ also comprising of bank branches, foreign exchange bureaus and a warehouse âˆ’, hotel facilities, and a market â€“ all of which worth 1.7 billion Rwf.
According to Nyaruguru district Mayor, FranÃ§ois Habitegeko, the idea to have this cross-border trade complex â€“ which is, the Mayor said, Nyaruguru districtâ€™s own initiative â€“ fits in the broader, national plan to fix the import-export imbalance, with Rwanda still importing more than it exports.
â€œThis cross-border trade complex will also help formalize the booming informal trade within border communitiesâ€, Mayor Habitegeko said, adding that he hopes the districtâ€™s partners will also co-operate in this project.
In 2012, a Nyaruguru-MINICOM-led study found out that the size of informal trade transactions at the Akanyaru River border post hit 1.2 billion Rwf, and Mayor Habitegeko suspects the figure could be even much higher as some of this informal trade could not be recorded.
It is still unclear when exactly this gigantic, two-phase construction project will come to an end. Mayor Habitegeko only did hint that phase one will be done before the end of next year.