{"id":326067,"date":"2022-08-28T13:22:42","date_gmt":"2022-08-28T13:22:42","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=326067"},"modified":"2022-08-28T13:23:17","modified_gmt":"2022-08-28T13:23:17","slug":"a-japanese-economic-zone-in-sczone-can-be-gateway-for-japan-exports-to-africa","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2022\/08\/28\/a-japanese-economic-zone-in-sczone-can-be-gateway-for-japan-exports-to-africa\/","title":{"rendered":"A Japanese economic zone in SCZone can be gateway for Japan exports to Africa"},"content":{"rendered":"

Prime Minister Mostafa Madbouly told his Japanese counterpart Fumio Kishida on Saturday that the establishment of a Japanese economic zone in the the Suez Canal Economic Zone (SCZone) can serve as a gateway for Japanese products to Africa, and a way to boost economic cooperation between the two countries.<\/p>\n

The two premiers discussed various topics to boost economic cooperation between the two countries in a video meeting on the sidelines of Eighth Tokyo International Conference on Development in Africa (TICAD8)\u00a0that is taking place in Tunisia 27-28 August.<\/p>\n

The Japanese premier is attending the conference virtually, while PM Madbouly is attending on behalf of President Abdel-Fattah El-Sisi.<\/p>\n

According to a statement by the Egyptian Cabinet, Madbouly called in discussions with the Japanese premier on\u00a0the Japanese private sector to inject further investments in Egypt in order to\u00a0benefit from the relevant legislative and structural reforms made to stimulate the business environment and improve investment climate in the country.<\/p>\n

Madbouly said the Japanese private sector can benefit from investing in the\u00a0SCZone as\u00a0a prominent logistic centre that can provide a gateway\u00a0for the export of Japanese goods to Africa.<\/p>\n

The Egyptian premier reviewed with Kishida other investment opportunities available for Japanese companies in Egypt, including projects in the under-construction New Administrative Capital (NAC), electricity, renewable energy, agricultural industrialisation, water desalination, and technology transfer.<\/p>\n

For his part, Kishida said the Japanese government will continue to encourage companies to make investments in Egypt.<\/p>\n

The Japanese premier\u00a0cited\u00a0the investments of Toyota Tsusho Corporation (TTC)\u00a0in Egypt as a successful model of Japanese companies operating in Egypt.<\/p>\n

Also today, Madbouly met with a delegation of officials from TTC to shed light on promising chances for the company to invest in a new complex for automobile industry\u00a0in Port Said.<\/p>\n

For their part, the Toyota\u00a0delegation praised\u00a0the current level of cooperation between the company and Egypt,\u00a0thanking the Egyptian authorities for eliminating all obstacles facing investments and improving the business climate.<\/p>\n

In mid-August, the SCZone signed a memorandum of understanding (MoU) with TTC, a member of the Toyota Group,\u00a0to execute\u00a0several projects in infrastructure to achieve carbon neutrality and help the country transition to a green economy.<\/p>\n

These\u00a0include projects in\u00a0logistics, renewable energy, water, and production of both green and blue hydrogen and ammonia.<\/p>\n

Toyota Tsusho is also part of a consortium that includes Egypt\u2019s Orascom Construction and France\u2019s ENGIE, which aims to establish a wind power plant with a capacity of 500 MW in the Gulf of Suez area.<\/p>\n

Egypt aims to reduce carbon emissions, promote use of renewable energy sources, and use alternative energy forms including green hydrogen – as part of the country’s National Climate Strategy 2050.<\/p>\n

The SCZone plans to localise various industries within the framework of Egypt\u2019s 2030 Strategy, including green fuel industries in Sokhna and East Port Said.<\/p>\n

Education, invitations<\/strong><\/p>\n

PM Madbouly also praised Japanese support to Egypt in implementing various important national projects, including the construction of Grand Egyptian Museum\u00a0(GEM).<\/p>\n

The Egyptian premier extended an invitation to his Japanese counterpart to attend the GEM inauguration.<\/p>\n

Madbouly also told Kishida that Egypt looks forward for the premier’s participation in the\u00a0UN Climate Change Conference<\/a> (COP27)\u00a0that will be held in Sharm El-Sheikh from 6-18 November.<\/p>\n

Exports and bonds<\/strong><\/p>\n

Madbouly expressed Egypt’s\u00a0keenness to expand the exports of Egyptian agricultural products to Japan during the coming period as part of boosting trade relations between the two countries.<\/p>\n

For his part, the Japanese PM affirmed his country\u2019s keenness to boost cooperation with Egypt in all fields.<\/p>\n

He also praised ongoing development cooperation with Egypt in the fields of transport and health.<\/p>\n

Kishida also commended the recent Egyptian step to issue Egypt’s first Japanese yen-denominated bonds (samurai bonds)\u00a0worth $500 million.<\/p>\n

Trade volume between Egypt and Japan increased in 2021 by 13 percent to reach $1.5 billion.<\/p>\n

Moreover, Egyptian exports to Japan also increased in 2021 by 7 percent to reach $327 million.<\/p>\n

For his part, the Egyptian premier\u00a0praised Egyptian-Japanese partnership in the field of education, including the application of Japan\u2019s\u00a0Tokkatsu\u00a0basic education system in recently-formed Japanese Schools in the country, as well as the establishment of the Egypt-Japan University of Science and Technology (E-JUST) in Alexandria in 2020.<\/p>\n

Madbouly also re-extended Egypt\u2019s condolences to Japan over the death of late former Prime Minister Shinzo Abe, who was assassinated in July, hailing Abe\u2019s huge contributions to strengthening Egyptian-Japanese relations.<\/p>\n","protected":false},"excerpt":{"rendered":"

Prime Minister Mostafa Madbouly told his Japanese counterpart Fumio Kishida on Saturday that the establishment of a Japanese economic zone in the the Suez Canal Economic Zone (SCZone) can serve as a gateway for Japanese products to Africa, and a way to boost economic cooperation between the two countries.<\/p>\n","protected":false},"author":2,"featured_media":319766,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[27,33],"tags":[],"class_list":["post-326067","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-export","category-main"],"yoast_head":"\nA Japanese economic zone in SCZone can be gateway for Japan exports to Africa - egy-africa<\/title>\n<meta name=\"description\" content=\"Prime Minister Mostafa Madbouly told his Japanese counterpart Fumio Kishida on Saturday that the establishment of a Japanese economic zone in the the Suez Canal Economic Zone (SCZone) can serve as a gateway for Japanese products to Africa, and a way to boost economic cooperation between the two countries.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/egy-africa.com\/en\/2022\/08\/28\/a-japanese-economic-zone-in-sczone-can-be-gateway-for-japan-exports-to-africa\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A Japanese economic zone in SCZone can be gateway for Japan exports to Africa - 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