Minister of Planning, Economic Development, and International Cooperation Meets with Japan’s State Minister for Foreign Affairs to Discuss Strengthening Strategic Economic Relations between the Two Countries on the Sidelines of the Tokyo International Conference on African Development (TICAD 9)

Al-Mashat: Tokyo conference is an international forum to consolidate the development partnership between Japan and African countries

 

We look forward to expanding trade and investment relations between the Egyptian and Japanese private sectors

 

Egypt has implemented ambitious economic and structural reforms to strengthen macroeconomic stability and improve the business environment and investment climate for the private sector

 

Japanese financial institutions and the private sector have contributed to the implementation of vital projects in renewable energy and infrastructure in Egypt

 

H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, met with H.E. Hisayuki Fujii State Minister for Foreign Affairs of Japan, during her participation in the Tokyo International Conference on African Development (TICAD 9), as part of Egypt's delegation headed by H.E. Dr. Mostafa Madbouly, Prime Minister, on behalf of H.E. President Abdel Fattah El-Sisi, President of the Arab Republic of Egypt.

 

During the meeting, H.E. Dr. Rania Al-Mashat extended her appreciation to the Japanese side for the warm reception and the organization of this important international forum, which reflects the depth of Japan’s relations with the African continent and the significant opportunities available to strengthen partnerships at the bilateral level between Egypt and Japan, as well as the trilateral level between Egypt, Japan and the countries of the continent, in order to prioritise and advance joint development across various fields.

 

The Minister noted that the convening of the conference comes at a time when Egypt-Japan relations have witnessed continuous progress and strong momentum over recent years, underpinned by high-level exchanges between the leaderships of the two countries and the declaration to elevate relations to the level of a strategic partnership, which reflects the strength and resilience of bilateral ties, as well as the keenness of both sides to continue to develop them to include more priority sectors.

 

H.E. Dr. Al-Mashat underscored the Egyptian government’s keenness to strengthen partnerships with Japanese institutions, represented by the Japan International Cooperation Agency (JICA), the Japan Bank for International Cooperation (JBIC), and the Japan External Trade Organization (JETRO) to diversify the cooperation portfolio in terms of trade exchange, private sector development financing, increasing investments, and opening new horizons for partnership between private sector companies from both countries to implement joint projects.

 

The two ministers also discussed developments in the ongoing development cooperation portfolio and projects currently under implementation, including metro projects, emphasizing that they look forward to the opening of the Grand Egyptian Museum in November, which is one of the pioneering models of cooperation between the two friendly countries.

 

The Minister of Planning, Economic Development and International Cooperation expressed her aspiration to expand trade and investment relations between the Egyptian and Japanese private sectors, noting that Egypt has implemented ambitious economic and structural reforms to enhance macroeconomic stability and improve the business environment and investment climate for the private sector.  She further emphasized that Japanese financial institutions and the private sector contributed to the implementation of vital projects in the renewable energy and infrastructure sectors in Egypt, especially under the “NWFE” program.

 

It is worth noting that Japan is one of Egypt’s most important Asian development partners, and the cooperation portfolio currently includes about 18 development projects that support the government's plan to achieve sustainable economic development goals. The cooperation portfolio between Egypt and Japan is in line with Egypt's Vision 2030, the Government Action Program (2024–2027), and the priorities of Japanese funding policies. The total technical support and grants provided by Japan amounted to about $2.4 billion, in addition to development funds amounting to about $7.2 billion, in the fields of renewable energy, electricity, transport, civil aviation, antiquities, irrigation, education and health, and budget support.