Minister of Trade and Industry Eng. Amr Nassar stressed the governments keenness to attract more foreign investments to work in the Egyptian and African markets and to export to the regional and international markets.
He pointed out that Egypts chairmanship of the African Union this year represents an important opportunity to transfer economic relations between Egypt and Japan to distinct levels in the countries of the African continent.
The Japanese side is studying the establishment of a Japanese industrial zone in Egypt in the Gulf of Suez economic zone, which includes a large number of major Japanese industries, the minister said, adding that the project will contribute to enhancing industrial cooperation between Egypt and Japan.
The meeting was attended by Masaki Noki, Ambassador of Japan in Cairo, Mohamed Abul-Enein, Vice-Chairman of the Egyptian-Japanese Business Council, and the Egyptian-Japanese Business Forum. Chairman of the Japanese-Egyptian Business Association, Hiroyuki Ishigi, Chairman of Japans Foreign Trade Organization (JETRO) and Engineer Hossam Abdul Aziz, Ministers Advisor for Industry Affairs.
The Minister pointed out the importance of enhancing the Egyptian-Japanese cooperation in supporting the industrialization of the African countries through the establishment of industrial partnerships between the public and private sectors in the continent, pointing out the importance of benefiting from the TICAD 7, which Japan will host in August, Between Africa and Japan, upgrading the level of economic cooperation between the two sides, and supporting comprehensive development efforts in capacity-building of the African continent.
Nassar said that the current trend of the state aims to promote the automotive industry and industries to feed them to meet the needs of the domestic market and export to the markets of countries associated with Egypt by trade agreements, pointing to the importance of directing more Japanese investments to the Egyptian market to work in the automotive industry, Which includes the ease of shipping to the regional markets and qualified labor, as well as the network of free and preferential trade agreements that link Egypt with a large number of countries and global economic blocs.
The Minister pointed out that the development of small and medium enterprises is a top priority of the government during the current stage. He pointed to the Ministrys keenness to use "international export houses" to promote Egyptian exports in foreign markets, especially exports of small and medium enterprises. Egyptian International Markets.
Nassar pointed out that during the activities of the Egyptian-Japanese Business Forum, a memorandum of understanding will be signed between the Ministry of Commerce and Industry represented by the Commercial Representation Authority and the Japanese Foreign Trade Authority (JETRO) in the field of exchanging trade information and information related to laws and legislations. In both countries.
For his part, Masaki Noki, Ambassador of Japan in Cairo, said that his country is keen to deepen ties with Egypt at all levels and in all political, commercial and economic fields. He pointed out that the Japanese business community is witnessing the positive change witnessed by the Egyptian economy at present, New investments in the Egyptian market and expansion of existing projects.
Noki pointed out that Japan is seeking to expand the African continent through Egypt, especially under the chairmanship of the African Union this year, which represents a great opportunity to make a qualitative leap in the level of Japanese-African relations in various fields, especially in the establishment of joint investment projects in favor of all parties , Pointing out that the delegation of Japanese companies, which is currently visiting Cairo, includes various productive sectors, some of which already have investments in the Egyptian market, while others have a great interest in identifying the investment opportunities available in this promising market.
Satoshi Ozawa, chairman of the Japan-Egypt Business Association, stressed Japans keenness to increase the number of Japanese companies operating in Egypt, which number only 50 companies. Japanese companies accompanying the delegation would like to identify the areas in which they can invest in the Egyptian market.
For his part, Hiroyuki Ishigi, Chairman of Japans Foreign Trade Organization (JETRO), pointed out the keenness of the Authority to transfer its expertise to the Egyptian government in the fields of SME development. 99.7% of the Japanese economy is based on small and medium enterprises. "For all initiatives that can be established between the Egyptian and Japanese sides, which will increase the volume of intra-trade and joint investments between the two countries.
He added that Jetro has long experience in developing Japanese exports with all countries of the world. Egypt can be assisted in the development and promotion of Egyptian exports in various foreign markets, especially as there is a noticeable trend in the Egyptian political leadership to open new markets for Egyptian exports.
Mohammed Abul-Enein, Vice Chairman of the Egyptian-Japanese Business Council praised the Japanese delegations appreciation of the current situation of the Egyptian state, especially the positive changes in investment and facilitating the business climate. He also pointed out the importance of enhancing Egyptian-Japanese cooperation on the African continent, Especially the direct transport line between Alexandria and Cape Town.