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For Immediate Release
Office of the Press Secretary
February 19, 2008
Fact Sheet: United States-Rwanda Bilateral Investment Treaty
In Focus: Africa Trip 2008
"This will be America's first such treaty in Sub-Saharan Africa in nearly a decade. It reflects our shared commitment to systems of fair and open investment. It will bring more capital to Rwanda's dynamic and growing economy."
President George W. Bush
Today, President Bush and Rwandan President Kagame signed the United States-Rwanda Bilateral Investment Treaty (BIT). The BIT will enter into force after ratification by the United States and Rwanda, following approval of the Treaty by the United States Senate and the Rwanda Parliament. This is the first BIT concluded between the United States and a Sub-Saharan African country since 1998.*
The United States-Rwanda BIT will provide legal protections for U.S. and Rwandan investors that underscore the two countries' shared commitment to open investment and trade policies. These protections include nondiscriminatory treatment, free transfer of investment-related funds, prompt, adequate, and effective compensation in the event of an expropriation, and transparency in governance. The BIT also gives investors the right to bring investment disputes to neutral, international arbitration panels.
The United States-Rwanda BIT will reinforce the Rwandan government's achievements in rebuilding the Rwandan economy after the 1994 genocide.
Our bilateral economic relationship with Rwanda is strong and growing. While the current level of U.S. investment in Rwanda is modest, several large U.S. companies conduct business with Rwandan firms and are exploring trade-related initiatives with the Rwandan Government.
* The United States currently has five BITs in force with Sub-Saharan African countries: Cameroon, the Democratic Republic of Congo, Mozambique, the Republic of Congo, and Senegal.
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