4 days ago
Ishiba Intends to Announce Plan to Improve Africa-Asia Logistics Networks at TICAD 9; Japan Plans to Accelerate Copper Ore Corridor Development
Prime Minister Shigeru Ishiba intends to announce a plan to improve terrestrial logistics networks connecting the interior of Africa to the Indian Ocean and sea lanes linking Africa and Asia, during the 9th Tokyo International Conference on African Development (TICAD 9), which will be held from Aug. 20 to 22 in Yokohama.
Up to now, Japan has focused mainly on infrastructure development along the eastern coast of Africa. However, under the new plan, called the Indian Ocean-Africa Economic Zone Initiative, it now aims to enhance connectivity with inland regions as well and promote unified economic development in interior African nations and African and Asian countries around the Indian Ocean.
Specifically, Japan plans to accelerate the development of the Nacala Corridor connecting the landlocked nations of Zambia and Malawi to Mozambique on the eastern coast.
Zambia is one of the world's leading producers of copper ore, which it has so far exported primarily via South Africa and the Atlantic Ocean. But the development of the corridor will make possible to export copper ore to Japan much more quickly.
Japan is totally dependent on imports for copper ore, which is used in the production of electric vehicles and other products. Creating a stable supply of copper ore through the corridor is expected to reduce risks to the country's economic security.
Japan will also improve the ports of Mombasa in Kenya and Mumbai in India to expand sea lanes. The establishment of these logistics networks will also expand business and investment opportunities for Japanese companies.
