Rwanda Makes Remarkable Progress in Implementing Economic Reforms

Under Secretary Robert D. Hormats for Economic, Energy and Agricultural Affairs today said Rwanda has made remarkable progress in implementing economic reforms that have helped rebuild the Rwandan economy and society.

In his remarks at the U.S.-Rwanda BIT Celebration, Mr. Hormats the Bilateral Investment Treaty (BIT) treaty has helped rebuild the Rwandan economy and society and the treaty will underscore Rwanda’s commitment to open investment policies, and fair and transparent treatment of investors.

“State and USTR share responsibility for Bilateral Investment Treaty (BIT) negotiations and we think that our work on the U.S.- Rwanda BIT is an example of great teamwork between agencies of the U.S. government.” -Mr. Hormats

EugeneRichard Gasana, Permanent Representative of the Republic of Rwanda to the United Nations, speaks at the memorial ceremony commemorating the 1994 Rwanda genocide.

UN Photo/JC McIlwaine

He stated that both agencies had an excellent working relationship throughout the process..

He noted that Secretary Clinton has given a series of speeches over the past few months, most recently in New York in October describing the intersection of economics and foreign policy – what we call “economic statecraft.”

“There is no better example of this than the cooperative work of USTR and the State Department.” -Mr. Hormats

He stressed that trade and investment are important drivers of economic growth and job creation and collaborative work in addressing these issues is important to developing more and better jobs.

“The United States aims to leverage our economic strengths and dynamism to deepen our ties with other countries in the world and to support important foreign policy goals. This includes our efforts to promote economic development worldwide.” -Mr. Hormats

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Mina Fabulous follows the news, especially what is going on in the US State Department. Mina turns State Department waffle into plain English. Mina Fabulous is the pen name of Carmen Avalino, the NewsBlaze production editor. When she isn’t preparing stories for NewsBlaze writers, she writes stories, but to separate her editing and writing identities, she uses the name given by her family and friends.