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Gamea discusses with Japan ambassador mutual cooperation
23 September 2020  -  Organization :  -  Sector/Entity :  -  Category : General

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The meeting discussed cooperation in auto manufacturing and SMEs.

Cairo- September 23, 2020

Minister of Trade and Industry Nevine Gamea has held an extended meeting with Ambassador of Japan in Cairo Masaki Noke, where they explored ways to develop economic relations between the two countries, particularly in industry, trade and SMEs.

Gamea emphasized that the government is keen to attract more Japanese investments into the Egyptian market with its ample business opportunities and benefit from the advanced Japanese industrial know-how, especially in auto manufacturing.

“Egypt can well be a hub for Japanese products into the markets of the Middle East and Africa,” Gamea noted, stressing the ministry’s commitment to providing all kinds of support to companies operating in the local market.

With regards to strengthening cooperation between the Small, Medium and Micro Enterprises Development Authority and the Japan International Cooperation Agency (JICA), the minister pointed out that a $150-million financing program is currently under study, of which $100 million will be allocated for industrial and digital transformation projects, and $50 million for agricultural and high credit risk ones.

Noke, for his part, said that coordination is underway with the Egyptian side to hold the first session of the Egyptian-Japanese Committee for Business and Investment, which aims to create a favorable business environment in the two countries, which would contribute to boosting bilateral trade and investment over the next period.

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