Minister of Planning, Economic Development and International Cooperation Meets with the Japanese Ambassador and the Chief Representative of the Japan International Cooperation Agency (JICA) to Discuss Strengthening Mutual Economic Relations and Preparations for the Tokyo International Conference on African Development (TICAD)

Dr. Rania Al-Mashat discusses joint efforts to promote private sector investment through innovative financing mechanisms provided by Japanese financial institutions.

 

Al-Mashat: The Tokyo International Conference on African Development paves the way for constructive partnerships with African countries to support sustainable development efforts.

 

Exploring new opportunities for economic and investment cooperation between Egypt, Japan, and African countries in priority areas, particularly renewable energy.

 

H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, met with Ambassador Fumio Iwai, the Japanese Ambassador to Cairo, and Mr. Ebisawa Yu, Chief Representative of the Japan International Cooperation Agency (JICA) in Egypt, within the framework of following up on efforts to strengthen joint economic relations between the two countries in light of their historical and close ties in various fields, as well as discussing preparations for the Tokyo International Conference on African Development (TICAD), whose 9th edition will be held from August 20 to 22.

 

At the beginning of the meeting, the Minister of Planning, Economic Development and International Cooperation welcomed the Japanese Ambassador to Egypt and the Chief Representative of JICA, praising the economic and development relations between the two countries which have spanned more than 70 years, reflecting the ongoing coordination and mutual keenness to develop joint relations, embodied in the exchange of visits between the leaderships of the two countries over the past years, as well as the turning point in announcing the elevating of bilateral relations to a strategic partnership during the visit of former Japanese Prime Minister Fumio Kishida to Egypt in April 2023.

 

Both sides highlighted the various aspects of Egyptian-Japanese relations that have contributed to advancing sustainable development, particularly in sectors prioritized by the government, foremost among which are education, health, human capital investment, scientific research, and the transition to a green economy, in addition to empowering the private sector through partnerships with Japanese financial institutions. The two sides expressed their anticipation for the opening of the Grand Egyptian Museum in early November. They also reaffirmed their commitment to continue their successful cooperation in launching and completing the 4th phase of the Greater Cairo Metro.

 

The meeting also discussed preparations for the 9th Tokyo International Conference on African Development (TICAD) and Egypt’s participation in the conference. H.E. Dr. Al-Mashat emphasized the importance of the conference and its role in strengthening African-Japanese relations, paving the way for enhanced South-South and trilateral cooperation, and creating constructive partnerships that contribute to advancing development in Africa.

 

H.E. Dr. Al-Mashat further underscored the importance of exploring new opportunities for economic and investment cooperation between Egypt, Japan, and African countries, noting that both sides should identify priority areas in this regard, particularly renewable energy, where Egypt has distinguished expertise that can be transferred to African countries with the support of Japan.

 

In this context, Al-Mashat reaffirmed the Egyptian government’s commitment to building on the ongoing progress in Egyptian-Japanese relations to further strengthen the strategic partnership and stimulate development financing and green investments in the energy, food, and water sectors within the “NWFE” program, and expressed aspirations for a new phase that enhances climate action and expands private sector participation in development.

 

H.E. also affirmed the government’s aspiration to increase investments and participation by the Japanese private sector, JICA, and the Japan Bank for International Cooperation (JBIC), in support of the Ministry’s efforts to increase development financing for the private sector from international partners, thereby supporting the goals of empowering the private sector to lead development efforts, noting the importance of enhancing the engagement of Japanese financial institutions in public-private partnerships in the areas of industrial localization, developing human capital, sustainable infrastructure, and advanced technologies such as artificial intelligence.

 

It is worth noting that Japan is one of the most important Asian development partners, with a current cooperation portfolio comprising about 18 development projects supporting the government’s plan to achieve sustainable economic development goals. The cooperation portfolio between Egypt and Japan aligns with Egypt Vision 2030, the Government Action Program (2024–2027), and Japan’s financing policy priorities. 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 the fields of renewable energy, electricity, transport, civil aviation, antiquities, irrigation, education and health, and budget support.

 

The Minister of Planning, Economic Development and International Cooperation visited Japan last December to strengthen Egyptian-Japanese relations. During the visit, the Development Policy Financing Agreement was signed to support private sector development and economic diversification, aiming to improve the business environment, stimulate private sector investment, and promote economic diversification with a focus on green growth. Letters of exchange were also signed for the Grant Agreement of The Project for the Improvement of Equipment at the National Cultural Centre (the Cairo Opera House).