A member of COMESA, EAC and ACP;
- A COMESA Fund Member by signature and ratification of the COMESA Fund Protocol;
- Made its assessed contribution of COM$280,000 to the Fund in 2009;
- Total amount approved under RISM is € 25,883,205; and
- COMESA Fund Coordinating Ministry is Ministry of Finance and National Planning.
Rwanda is also one of the first two countries to receive revenue loss compensation under the COMESA Adjustment Facility (CAF) and Regional Integration Support Mechanism (RISM) programme in 2009 and 2010. Rwanda received €22,600,000 as compensation for revenue losses experienced as a result of joining the EAC Customs Union. Further, Rwanda received €1,981,949 for wider adjustment support in 2012 and 2013 which was directed towards effective management of customs borders, strengthening oversight of Standards and Sanitary and phyto-sanitary (SPS) measures, promoting and facilitating trade, enhancing capacities to implement the EAC Agenda, enhancing capacities to negotiate the East Africa Monetary Union and also towards the Rwanda Integrated Trade Logistics Facilities Project. Rwanda is the major beneficiary country under the RISM programme and will continue receiving additional funding for adjustment support subject to fulfillment of regional commitments made at the national level.
Regional Integration Commitments and Targets
As part of its regional commitments, Rwanda targeted by 2016 to:
- setup and ensure the continuous operationalization of its National Inter-Ministerial Coordinating Committee,
- to implement the regionally agreed harmonize statistical clusters,
- eliminate at least 70% of NTB’s reported against the country,
- adopt EAC harmonized standards,
- finalize its trade in Services schedules in the first four priority sectors,
- adopt the COMESA Competition Regulations,
- sign and ratify the COMESA Common Investment Area (CCIA) Agreement,
- implement the COMESA harmonized road transport charges and
- liberalize air transport.