H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, met with the Japanese Ambassador to Egypt Oka Hiroshi on enhancing economic relations between the two countries in light of shared priorities and interests. This virtual meeting was the first between the minister and the Japanese ambassador following the merger of the ministries of planning and economic development with international cooperation. The minister also addressed strengthening international partnerships in industrial localization and human development, especially as the two countries commemorate 70 years of diplomatic relations.
At the beginning of the meeting, Al-Mashat emphasized the depth of the bilateral relations between Egypt and Japan and the effective partnerships that have resulted in various strategic fields. These include investments in human capital, infrastructure projects, and support for renewable energy transition efforts, all contributing to inclusive and sustainable growth.
The Japanese Ambassador in Cairo congratulated the minister on assuming her role following the merging of the planning and economic development and international cooperation portfolios. He affirmed Japan’s pride in its partnership with Egypt and its commitment towards advancing various aspects of bilateral cooperation in the future.
High-Level Policy Dialogue
They discussed organizing a high-level policy dialogue between Egypt and Japan at the end of August. This dialogue is viewed as a crucial platform for enhancing cooperation between the two countries. It will involve discussions on developmental cooperation issues, exploring proposals for future collaboration, and technical assistance, aligning with the pillars of Egypt’s 2030 Development Vision, the Egyptian Government’s three-year program, and the priorities of various ministries.
The Minister of Planning, Economic Development, and International Cooperation underscored the importance of strengthening partnerships with Japan in the upcoming phase, particularly focusing on industrial development, industrial localization, and human development. H.E. Dr. Al-Mashat highlighted the significance of these two areas and their impact on achieving comprehensive and sustainable economic development, stressing the need to leverage Japanese expertise in these fields.
70 Years of Bilateral Relations
Additionally, the two sides discussed the upcoming visit of H.E. Al-Mashat to Japan, coinciding with the 70th anniversary of Egyptian-Japanese relations. This visit is expected to include diverse meetings and discussions with Japanese counterparts and developmental institutions.
Al-Mashat noted that the Egyptian-Japanese partnership has significantly advanced under the leadership of H.E. President Abdel Fattah El-Sisi. This development culminated in the elevation of bilateral relations to a strategic partnership level. This has led to progress across various domains, including development projects, political, economic, and trade relations, investment, healthcare, culture, education, and science and technology, both bilaterally and multilaterally.
The meeting also covered several priority topics, including the Development Policy Loan (DPL) program and various grants in the fields of culture and agriculture. The Minister emphasized coordinating efforts with development partners to support Egypt’s development plans and bolster economic and social development efforts.
Private Sector Partnership
Furthermore, H.E. Minister Al-Mashat addressed partnerships with the Japan International Cooperation Agency (JICA) and other financing institutions to stimulate private sector investments in priority sectors. She highlighted the significant role of Japanese institutions in financing the private sector, particularly in the energy sector through the “NWFE” program. JICA is contributing to the funding of the “Abydos” solar power plant with a capacity of 500 megawatts, while the Japan Bank for International Cooperation (JBIC) is financing the “Amunet” wind power plant in Ras Ghareb with a capacity of 500 megawatts. The upcoming period will see the provision of additional financing mechanisms and technical support for Egyptian private sector companies from Japanese institutions, similar to the “NWFE” program.
Japan is a key Asian development partner for Egypt, with a development cooperation portfolio comprising over 18 projects supporting the government’s plan to achieve sustainable development goals, with a value of approximately $3.9 billion. This also includes numerous development grants in health, education, energy, electricity, transportation, civil aviation, tourism, antiquities, and irrigation, all supporting sustainable economic growth, social inclusion, educational development, human resource development, regional cooperation, and support for the national strategy to combat climate change.
Last year, a high-level annual policy dialogue was held between the Egyptian and Japanese sides at the Ministry of International Cooperation to discuss future cooperation proposals and technical collaboration, aligning with development priorities and Egypt’s 2030 Vision.
Distributed by APO Group on behalf of Ministry of Planning and Economic Development – Egypt.