Egypt's PM, Japanese business officials discuss increasing investments

14 Mar 2019

Cairo: Egyptian Prime Minister Mostafa Madbouli held a meeting with members of Egypt-Japan Business Council and representatives of Japanese companies, where they discussed ways to increase Japanese investments, and expand the activities of Japanese companies in Egypt.

During the meeting, Hiroyuki Ishige, chairman of the Japan External Trade Organization (JETRO), expressed hope to cooperate with the Egyptian government in improving the business environment in Egypt, highlighting the possibility for cooperation between JETRO and Egypt to establish a similar body.

Ishige also highlighted increasing Egyptian exports to Japan, as well as bilateral cooperation to motivate medium, small and micro enterprises.

Egypt's prime minister stressed the Egyptian government's readiness to cooperate with the Japanese side and to facilitate all procedures for the establishment of a Japanese industrial city in Egypt; a project proposed by Egypt's renowned businessman Mohamed Aboul Enein, honorary president of the Euro-Mediterranean Parliament Assembly (EMPA).

Madbouli noted that the government is keen to provide the appropriate business environment and continue to take serious steps to encourage and motivate investors to start new investments inside Egypt.

The meeting was attended by Sahar Nasr, Egypt's minister of investment and international cooperation; Mohamed Maai't, minister of finance; Amr Nassar, trade and industry minister; and Japanese ambassador to Egypt, Masaki Noke.

The Egyptian Commercial Service Office said that trade exchange between Egypt and Japan rose 30.5 percent during 2018, recording $1.26 billion, compared to $969 million during 2017.

The office added that Egypt’s most significant exports to Japan included Petrol, ready-made clothes, carpets, medicinal plants, cotton, vegetables and food products.

Egypt’s imports from Japan included cars, tractors, machinery, electrical appliances, iron, steel, plastics and articles thereof.

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