Egypt signs strategic pact framework with Japan, pitches Suez Canal industrial zone to secure global supply chains

Daily News Egypt
4 Min Read

Egypt and Japan signed a preliminary strategic partnership framework on Wednesday to prepare for a presidential-level agreement, as Cairo proposed establishing a dedicated Japanese industrial zone in the Suez Canal Economic Zone to help secure global supply chains.

The preliminary framework, alongside an agreement on diplomatic training, was signed during the launch of the third Egyptian-Japanese Strategic Dialogue between Egyptian Minister of Foreign Affairs, International Cooperation and Expatriates Badr Abdelatty and Japanese Foreign Minister Toshimitsu Motegi, Foreign Ministry spokesperson Tamim Khallaf said.

Concurrently, Abdelatty delivered a written message from Egyptian President Abdel Fattah al-Sisi to Japanese Prime Minister Sanae Takaichi. The message focused on elevating the bilateral partnership initially announced in April 2023.

During the meetings, Abdelatty presented Egypt as a strategic solution for Japanese companies seeking to diversify production centres and supply chains amid global geopolitical tensions. Citing a vastly improved investment climate driven by Egypt’s economic reform programme, the foreign minister requested the Japanese government’s support in encouraging further business investments across multiple economic sectors.

To facilitate this, Abdelatty proposed the creation of a Japanese industrial zone, highlighting the direct and indirect customs and investment incentives available to foreign investors within the Suez Canal Economic Zone. He emphasised the critical need for Japanese expertise to support Egypt’s economic development, calling for expanded cooperation in innovation, scientific research, and digital transformation.

Positioning Egypt as a manufacturing and export gateway to Arab, African, and European markets via its extensive network of free trade agreements, Abdelatty also explored trilateral cooperation opportunities between Egypt, Japan, and African nations. He formally invited Japan to participate in the inaugural “Alamein – Africa” Business Forum taking place this month, which aims to boost continental trade and investment partnerships.

The foreign minister further called for activating the outcomes of the ninth Tokyo International Conference on African Development (TICAD) and leveraging the Cairo International Center for Conflict Resolution, Peacekeeping and Peacebuilding to support security, peace, and capacity building across the continent.

Highlighting a robust developmental partnership, Abdelatty praised the Japan International Cooperation Agency (JICA) for its essential role in funding Egyptian education, health, transport, energy, and sustainable development projects. He specifically commended the Egypt-Japan University of Science and Technology, joint vocational training initiatives, and Tokyo’s support for the Grand Egyptian Museum, describing the latter as a highly successful model of bilateral cultural cooperation.

Addressing regional security with Prime Minister Takaichi, Abdelatty outlined Egypt’s ongoing efforts to halt the war and achieve de-escalation in the Middle East, providing briefings on the latest developments in the Gaza Strip, Sudan, and the Horn of Africa.

Both Takaichi and Motegi commended the notable development in bilateral relations across all levels and praised Egypt’s persistent efforts to support regional security and stability.

The third round of the strategic dialogue is scheduled to conclude on Thursday, June 4, with further discussions dedicated to international and regional issues of mutual concern.

 

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