EU & Rwanda sign MoU to develop sustainable raw material chains

The MoU outlines five key areas of cooperation between the EU and Rwanda, focusing on the integration of sustainable raw materials value chains, ensuring economic diversification, and promoting the sustainable and responsible production of critical and strategic raw materials. Key initiatives include increasing due diligence and traceability, combating illegal trafficking, and aligning with international environmental, social, and governance (ESG) standards, the European Commission said in a press release.

Furthermore, the agreement encompasses the mobilisation of funding for necessary infrastructure development, research and innovation, and the sharing of knowledge and technologies related to sustainable raw material management. Capacity building and enhancing training and skills in the critical and strategic raw materials sector are also integral components of the partnership.

This collaboration is expected to drive economic diversification and structural transformation in Rwanda, promoting added value and integrating higher standards within the country's economy. The EU's Global Gateway investment plan will play a crucial role in enhancing transparency and traceability and mobilising funds for infrastructure projects.

Following the signing of the MoU, the next steps include the development of a roadmap with concrete actions, to be formulated within six months, aimed at implementing the strategic partnership practically.

“With this mutually beneficial partnership, we aim to build a resilient and sustainable critical raw materials value chain covering extraction, refining, processing, recycling and substitution. Transparency, traceability and investment are at the core of the EU-Rwanda critical raw materials partnership,” said Thierry Breton, commissioner for internal market.

“Global Gateway provides the frame for ambitious and strategic partnerships driving structural transformation and promoting added value like this partnership on raw materials value chains with Rwanda. It is not only about trade and investments: it is about the planet and the people who will benefit from a sustainable, transparent and resilient value chain of critical raw materials,” said Jutta Urpilainen, commissioner for international partnerships.

“This agreement further guarantees the quality and traceability of our raw materials, reaffirming Rwanda as a reliable partner in international trade. Rwanda values its partnership with the EU and looks forward to further strengthening our growing cooperation,” said Vincent Biruta, Rwandan minister for foreign affairs.

Fibre2Fashion News Desk (DP)