Korea-Rwanda Policy Consultation... Agreement on Draft of 'Double Taxation Avoidance Agreement'

Welcoming the Signing of the Air Service Agreement, Agreeing to Continue Cooperation in Development and Aviation Sectors

[Asia Economy Reporter Lim Cheol-young] On the 2nd, Ko Kyung-seok, Director of the Africa and Middle East Bureau, held the 2nd Korea-Rwanda Policy Consultation via video conference with Philip Karents, Director of the Asia-Pacific Bureau at the Rwandan Ministry of Foreign Affairs, exchanging views on COVID-19 response, development and economic cooperation, cooperation on the international stage, and the situation on the Korean Peninsula.

Director Karents repeatedly expressed gratitude, stating that the diagnostic equipment and masks provided by the Korean government to Rwanda for COVID-19 response have been of great help, and expressed hope to cooperate with Korea on various occasions in the future.

The Korean government supported Rwanda with diagnostic equipment and masks in cooperation with the World Health Organization (WHO) and the African Union (AU) as part of support for quarantine supplies and capacity building for COVID-19 response in 53 out of 54 African countries.

Both directors evaluated that development cooperation projects such as the Rwanda National University construction project and the power transmission network expansion project between Korea and Rwanda are progressing smoothly. They also welcomed the recent signing of the Korea-Rwanda Air Agreement and agreed to continue cooperation in development and aviation fields based on this friendly cooperative relationship.

On the occasion of this policy consultation, the two countries agreed on the draft of the Korea-Rwanda Double Taxation Avoidance Agreement and decided to promptly proceed with domestic procedures for signing. This agreement is expected to help reduce the local tax burden on Korean companies entering Rwanda and activate economic exchanges between the two countries.

Additionally, Director Ko explained the progress of the upcoming events to be held in Korea next year, including the Green Growth and Global Goals 2030 Partnership (P4G) Summit, the 2021 UN Peacekeeping Ministers Meeting, and the 5th Korea-Africa Forum, requesting Rwanda’s active participation and cooperation.

This 2nd Korea-Rwanda Policy Consultation was held five years after the 1st Policy Consultation in 2015. A Ministry of Foreign Affairs official evaluated, "It was a meaningful opportunity to confirm the achievements of the friendly cooperation built between the two countries so far and to ask for Rwanda’s support and interest in the international events to be held in Korea next year."

This content was produced with the assistance of AI translation services.