$1.3 billion...the volume of trade exchange between Egypt and Japan

The Japanese Foreign Ministry spokeswoman, Okano Yukiko, said that the Japanese Foreign Minister’s visit to Egypt comes within the framework of the follow-up to the visit of Japanese Prime Minister Fumio Kishida to Cairo in April 2023, a visit that witnessed the elevation of bilateral relations to the level of a strategic partnership, thus becoming the first country in Africa to be raised. Relationships with her to this level.

She added in a press conference held this morning that the visit is an opportunity to shed light on bilateral relations between Tokyo and Cairo, as well as to strengthen Japanese-Arab relations through the Japan-Arab Dialogue Forum, and to hold tripartite consultations between Egypt, Jordan and Japan.

She indicated that Japanese investments in Egypt doubled during 2022, and there are about 50 Japanese companies operating in the country. She explained that the volume of trade exchange between the two countries amounts to $1.3 billion.

She explained that there are many areas of cooperation between the two countries, such as the Grand Egyptian Museum, the metro tunnel line, and cooperation in infrastructure projects, pointing out that there are discussions to continue to benefit from this momentum.

  Investing in infrastructure projects

She added that Japan is interested in investing in infrastructure and clean energy projects, noting that there is a possibility to increase investments and cooperation with Egypt, through the entry of more Japanese companies into the market.

She pointed out that the Minister of Foreign Affairs met with representatives of Japanese companies to listen to the private sector, expressing the government’s readiness to encourage companies to enter the Egyptian market by promoting the market’s potential, as Egypt has capacity in terms of human resources and can benefit from that.

  Political cooperation

Regarding political cooperation with Egypt regarding Arab and regional issues, the Japanese Foreign Ministry spokeswoman said that Egypt is a center for Tokyo, especially since it is a politically and economically stable country, for communicating with neighboring countries and enhancing cooperation for peace, stability and development. And she said that he will visit the pyramids and the Grand Egyptian Museum today.

Economic relations between the two countries

Okano Yu Keiko, spokeswoman for the Japanese Ministry of Foreign Affairs, said that Egypt has enormous human capabilities and there are great opportunities for Japanese companies to invest in Egypt, pointing to the remarkable progress in economic relations between the two countries, which have doubled.

The spokeswoman confirmed in a press statement on Wednesday that Egypt is politically and economically stable and that Japan seeks to consolidate cooperation with Egypt, which is considered a key player in the initiatives launched by Japan in the region.

She noted that Japanese companies in general seek to invest in countries that have clear tax policies, economic and political stability, and that do not have bureaucratic complications.