Trade exchange bet. Egypt, Japan hits $1.2B in 2018

CAIRO – 27 August 2019: Trade exchange between Egypt and Japan recorded $1.2 billion during 2018, Minister of Trade and Industry Amr Nassar said on Tuesday, Aug. 27.

Nassar added in a statement that Japanese investments in the Egyptian market hit around $700 million during 2018.

The minister added that the current stage represents an important turning point in the history of bilateral relations between Egypt and Japan, making Japan one of the most important trading partners of Egypt at the global level.

Nassar pointed out that Egypt has been working during the past few years to implement macroeconomic policies aimed at achieving diversified and sustainable economic growth rates, stressing that the Egyptian government puts economic reform on top of its priorities.

He asserted that Egypt is implementing a comprehensive development strategy "Vision Egypt 2030", which aims to achieve several goals, the most important of which is to place Egypt among the top 30 countries in the world in the fields of economy and social development.

Earlier on Aug. 27, President Abdel Fatah al-Sisi arrived in the Japanese city of Yokohama to co-chair the seventh Tokyo International Conference on African Development (TICAD) as the current president of the AU, with Japanese Prime Minister Shinzo Abe.

TICAD 7 will focus on "Advancing Africa's Development through People, Technology and Innovation".