Rwanda-Morocco sign 22 bilateral agreements in different developmental areas

Yesterday the President of the Republic of Rwanda Paul Kagame received Moroccan King Muhammad VI in his office and senior officials from both sides have signed 22 bilateral agreements are meant to promote trade, investment, banking sectors, industry, security, among others. 

After the agreement signing session, officials from both sides had a diner at the Kigali Convention center.

Rwandan Minister of foreign affairs Louise Mushikiwabo told reporters that the signed agreements make an important start up in nurturing the bilateral ties between Rwanda and Morocco  as Morocco is an industrial nation that can back Rwanda in its paths towards sustainable development.

She added that the event comes from the visit that Rwandan President Paul Kagame has made in Morocco in June this year with the invitation of His Majesty King Muhammad VI during which both leaders discussed on issues that are useful to both nations.

The agreement signed yesterday include one labeled “General Cooperation Agreement” that features the ones concerning issues of politics, economy and many more others.

There were also an other agreement paper called “Political Consultation Mechanism” that aims at helping high ranking officials to discuss on political issues concerning both nations.

Both nations have also signed an agreement called “Air Service Agreement” that allows both nations to discuss and decide on how air traffic services between both countries can be exchanged.

Diplomats between both nations are exempted of holding visas through a so-called ‘Agreement on Exemption of Visa’.

Security and terror fight are part of the issues that both nations agreed to cooperate in through a paper called  “Agreement on Security Cooperation”.

Morocco is willing to establish an technology school called  “African Institute of Technology” that will be installed in Rwanda.

The Moroccan company called  “Palmerie Development Group” signed partenship with Rwandan businessmen to build accommodation 5000 facilities in Ndera sector, Gasabo district, Kigali city, and this project is worthy  $ 68 million.

Another Morrocan bank has purchased 76% of shares in the Rwandan based Bank called Cogebanque and these shares are of $ 41 million as Rwandan Minister of finance Amb Gatete told reporters.

He also revealed that Moroccans are willing to establish another bank called Banque Centrale Populaire in Rwanda

Both nations have created an Fund called Mutual Fund that will back different long time projects in Africa in general and between both nations particularly.

The Fund will start with a financial package of $ 50 million while the target is to have $300 million.

The Moroccan Minister of foreign affairs Nasser Mourita told media that the next step of their trip is in Tanzania and Ethiopia.

UM– USEKE.RW