Africa is seeking to diversify the range of its trade partners in Japan just as much as the Japanese government is also trying to do. Japan has been the biggest Asian project finance sponsor in Africa over the past few years. Tokyo is encouraging the expansion of Japanese SMEs and startups in Africa and the number of big Japanese investment firms investing in Africa is also increasing.
Globe Chamber of Commerce and Industry in Partnership with the Japanese Government presents the Japan-Africa Economic Forum. The Japan-Africa Economic forum aims to further strengthen trade and Investment relations between Africa and Japan
Recall that President Muhammadu Buhari was in Tokyo, Japan last year during the 7th Tokyo International Conference for African Development (TICAD 7) were both countries came to an agreement to further deepen and extend trade relations between both nations.
Considering the fact that Nigeria is among the fastest growing economies of the world, many Japanese companies are interested in investing into Nigeria with the main aim of securing strong economic ties with not just Nigeria but Africa as a whole. Currently, the two biggest sectors for Japanese investment in Africa are minning and hydrocarbons, particularly in Mozambique, where Mitsui & Co has invested billions of yen in coal and gas projects.
Japan currently has a balance-of-trade advantage over Africa. Its exports to Africa in 2015 alone was valued at $11.6 billion, while imports were valued at $8.5 billion, according to the Japan External Trade Organization.
The japan -Africa Economic Forum will be an eye opener for other business ventures between both parties.
The Japan-Africa Economic forum will be a 6 days serious business of fashioning ways to transform Africa'a economies and improve political stability for Africa and will feature exhibitions, B2B meetings, business cocktail, trade conference, business conference and bilateral trade agreement activities.
No comments:
Post a Comment