Barbados and the Republic of Rwanda have taken a giant step in the strengthening of their bilateral relations. This has come with the signing of a Double Taxation Agreement on the Avoidance of Double Taxation and Prevention of Fiscal Evasion with Respect to Taxes on Income.
It took place on Monday, December 22, at the Barbados High Commission in London.
Barbados’ High Commissioner to London, Guy Hewitt, and Rwandan High Commissioner, Williams Nkurunziza, represented their respective countries and expressed appreciation for the speedy negotiation, which led to the reaching of an agreement and the eventual signing.
Stating that they were convinced that this was evidence of the commitment of Barbados and Rwanda to forge closer bilateral ties, they also said it was an opportunity to take advantage of commercial and investment opportunities.
The signing will enhance the investment framework of Barbados and Rwanda, and facilitate trade and investment flows between the two countries.
Barbados looks forward to welcoming Rwandan investors to its shores, and playing a critical role in enhancing the competitiveness of Rwandan enterprises in their global expansion efforts, particularly in the CARICOM and Latin American Markets.
The Barbadian High Commissioner stressed that the signing was part of Government’s initiative to reach out more significantly to countries in Africa.
His counterpart, High Commissioner Nkurunziza also praised the initiative and pledged his country’s commitment to strengthening the bonds of friendship with Barbados. He said that this should be further demonstrated through the exchange of visits to each other’s country.