Egypt to present vision on Africa's development at G-20 summit

CAIRO - 27 June 2019: Egypt's participation in the G20 summit in the Japanese city of Osaka provides a great opportunity to present Cairo's vision aimed at strengthening international efforts to push forward development endeavors in Africa and list the African file on the international agenda, said the Ministry of Trade and Industry.

In a statement released on Thursday, the ministry added that the event will provide a chance to discuss a number of key issues between Egypt and Japan, as well as shed light on Cairo's economic reforms and probe means of fostering bilateral relations at the economic, trade, industrial and investment levels during the coming phase.

In this regard, the ministry pointed out that trade exchange between Egypt and Japan in 2018 hit $1.26 billion, compared to $969 million in 2017.

Japan holds the 31st place on the list of countries investing in Egypt, with total investments amounting to $420 million, the ministry said. Those Japanese investments are distributed in 106 projects in the sectors of industry, agriculture, services, tourism, construction and banking.

Around 24 Japanese companies working in the fields of renewable energy, auto industry, transportation, petrochemicals, electronics, machinery, equipment, textiles and food industries will take part in the planned Egyptian-Japanese round-table, which is due to be held on the sidelines of the G-20 summit, the ministry noted.

The joint expanded meeting is to address a number of important economic files, notably boosting the automotive industry in Egypt and increasing dependence on local components, in addition to the potential of launching joint industrial ventures in African states, especially in the areas of agriculture, infrastructure and electrical appliances, the ministry said.

It will also review a host of economic topics, primarily the economic part of Egypt's 2030 Vision, and the available investment opportunities in the Egyptian market, particularly in the domains of industry, mining, software, infrastructure, agriculture, tourism, petroleum, petrochemicals, communications and information technology, education, financial services, health care, transport, renewable energy and textiles.