The Japan –Arab Economic Forum was held in Cairo Monday, where over 250 participants from both public and private sectors attended.
The forum displayed opportunities available in various sectors in the Arab World, where Japanese investors are encouraged to tap in.
During the forum, participants exchanged proactive views on cooperation in energy, infrastructure and new economic fields like entertainment and start-ups.
The event was organized by Ministry of Economy, Trade and Industry in Japan, Ministry of Foreign Affairs in Japan, League of Arab States, Japan Cooperation Center for the Middle East, and Japan External Trade Organization (JETRO).
“This forum is a platform to enhance cooperation between Japan and Arab countries on different levels, boost investments and mitigating all burdens facing businessmen, besides exchanging ideas between private and public sectors,” said H.E. Amb. Kamal Hassan Ali, Assistant Secretary-General for Economic Affairs of the League of Arab in his opening speech.
Ali added that the forum provides an opportunity to ask the Arab governments and Japan to further cooperation among them, in industry and other fields, saying that the cooperation between both regions has witnessed an increased recording 160 billion USD in 2018.
Mohamed Abu el-Eneen, the chairman of Arab Investment Union, praised Japan’s approach in supporting underdeveloped and developing nations, maintaing “zero political interest, unlike other countries.”
He further explained that Japan seeks to transfer its knowledge and know-how in technology and other fields, in addition to enhancing the role of the private sector in the development process of the Arab region.
“We need to have an industrial revolution in Arab countries. We need to look at the ASEAN countries experience with Japan, and try to copy this in our countries,” Abu el-Eneed added.
For his part, Vice Minister of Finance in Somalia H. E. Dr.Abdallah Sheikh Ali gave remarks, calling for an increase in investments, as he considered Japan an important partner in development.
From the Japanese side, the State Minister of Economy, Trade, and Industry, Japan, Mr. Yoshihiko Isozaki was attending and stressed that his country is willing to cooperate in many sectors in the Arab world, including industry, environment, gas emission problems.
“The Arab region is very important, and from now on, Japan will develop its cooperation with the Arab countries, which will provide many job opportunities in the region,” he added.
In the keynote speeches, government officials and businessmen reiterated their appraisal to the organizing of the major business event “TICAD7” in Yokohama last month. Many participants also hailed the Japanese positive stance in support of the Palestinian people’s right in their land.
H.E. Minister of Economy in Palestine (Head of ECOSOC) Mr. Khalid Al Esali said that the financial support provided by Japan to Palestine since 1995 has reached 91,10 billion USD.
For his part, Ambassador Extraordinary and Plenipotentiary of Japan to Egypt, H. E. Mr. Masaki Noke, further hailed the relations between Japan and Egypt and welcomed the forum’s discussions regarding investment opportunities in the Arab world.