Rwanda and the European Union signed a Memorandum of Understanding on Sustainable Raw Materials Value Chains.
This MoU was signed on February 19th in Brussels, Belgium during the visit of Rwanda’s Minister of Foreign Affairs, Dr. Vincent Biruta, and was signed between him and the Commissioner for International Partnerships, Jutta Urpilainen.
This Memorandum of Understanding establishes close cooperation between the EU and Rwanda in 5 sectors, such as integration of sustainable raw materials value chains and support for economic diversification. It also aims to ensure the good functioning and sustainability of these value chains, cooperation to achieve sustainable and responsible production and valorization of critical and strategic raw materials.
Other sectors covered in the MoU are the mobilization of funding for the deployment of infrastructure required for the development of raw material value chains, including through improving the investment climate, research and innovation, and sharing of knowledge and technologies related to sustainable exploration, extraction, refining, processing, valorization, and recycling of critical and strategic raw materials. This also includes their substitution, waste management, and monitoring of supply risks.
The fifth sector mentioned is building capacity to enforce relevant rules, increasing training and skills related to the critical and strategic raw materials value chain.
This cooperation model will bring the possibility for Rwanda to diversify its economy and will be a driver for structural transformation, as it will promote added value and integrate better standards in the country.