Egypt, Japan discuss economic ties, preparations for TICAD conference
Minister of Planning, Economic Development and International Cooperation, Rania Al-Mashat, met with Japanese Ambassador to Cairo, Fumio Iwai, and the chief representative of the Japan International Cooperation Agency (JICA) in Egypt, Ebisawa Yu, the ministry said in a statement on Sunday.
Al-Mashat praised the economic and development relations between the two countries, which span more than 70 years, and highlighted the elevation of bilateral ties to a strategic partnership during the visit of former Japanese Prime Minister Fumio Kishida to Egypt in April 2023.
The officials discussed various aspects of their cooperation, particularly in sectors prioritised by the Egyptian government, including education, health, human capital investment, and the green economy transition. They also expressed their anticipation for the opening of the Grand Egyptian Museum in early November and reaffirmed their commitment to completing the fourth phase of the Greater Cairo Metro.
With the 9th edition of TICAD scheduled for Aug. 20-22, Al-Mashat emphasized the conference's importance in strengthening African-Japanese relations and creating constructive partnerships to advance development in Africa. She underscored the importance of exploring new opportunities for trilateral economic and investment cooperation between Egypt, Japan, and African countries, particularly in renewable energy.
The minister also reaffirmed the government's aspiration to increase investments and participation by the Japanese private sector, JICA, and the Japan Bank for International Cooperation (JBIC) to support development financing for the private sector in Egypt.
Japan is one of Egypt's most important Asian development partners, with a current cooperation portfolio of about 18 development projects. The total technical support and grants provided by Japan amount to approximately $2.4 billion, in addition to development financing of approximately $7.2 billion in various fields, the ministry said.
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