• Wed. Jun 19th, 2024

Day of reflection on exports of Burundian products

ByWebmaster

May 17, 2024

BUJUMBURA, May 17th (ABP) – The Burundi Industrialists’ Association (AIB), in collaboration with the Ministry of Trade, Transport, Industry and Tourism, the ADB and the Chamber of Commerce and Industry, organized a day of reflection on exports of Burundian products on Tuesday 14 May 2024.

In her speech, the Minister of Trade, Transport, Industry and Tourism, Marie Chantal Nijimbere, said that the day had been organized to discuss the challenges facing exports of Burundian products and to propose concrete and sustainable solutions that would help release the potential of exporting companies.

According to her, imports exceed exports, with a low rate of coverage of the latter. The level of the trade deficit evolves with the dynamics of imports. That shows that Burundi’s foreign trade structure is characterized by a deficit balance, and that trade remains the weakest.

To deal with that situation, Mrs. Nijimbere noted that they need to promote competitive foreign trade as a catalyst for development, forge strategic partnerships with a high visible commercial impact, and strengthen organizational and institutional capacities to assess quality standards, in order to tackle the challenges that are hampering the development of exports.

She pointed to a number of challenges that need to be addressed, including problems of access to finance and electricity, fuel shortages, administrative delays in applying tariffs and non-tariff barriers, and non-compliance with standards. The Minister said that the government of Burundi would continue to implement reforms to ensure the structural transformation of foreign trade, with the emphasis on improving the legal and regulatory framework and harmonizing it with those of the region and the AfCFTA.

During the discussions and debates, the development partners proposed strengthening access to local, regional and international markets, facilitating trade, making trade operations more secure and increasing the mobilisation of financing for trade activities.

They also pointed out the need to implement industrial development projects in the country, and to increase production and diversify export products in order to take advantage of the common markets of the sub-regions, in order to overcome the challenges that are holding Burundians back from boosting trade.

In closing, Mrs. Nijimbere indicated that the government of Burundi will collaborate with stakeholders involved in promoting and diversifying exports by strengthening the business and investment climate, to achieve the vision of a country emerging in 2040 and developed in 2060.