Japan Strives to Sign Free Trade Agreements with African Countries

On August 21st, Japanese Prime Minister Shigeru Ishiba announced at the Ninth International Conference on African Development (TICAD9) held in Yokohama that a preparatory committee would be established to strengthen economic cooperation with Africa. This initiative envisions signing free trade agreements (FTAs) with various African countries. The focus will be on promoting the expansion of Japanese companies into Africa and improving the relevant business environment.

Ishiba spoke at a public-private business dialogue attended by government and business representatives from Japan and African countries. He praised the African Union (AU) for its efforts to establish a free trade area within the region and emphasized, “Japan hopes to serve as a solid bridge connecting Africa and beyond.”

Ishiba also stated that fostering digital industries and start-ups is fundamental to accelerating economic growth. The preparatory committee for economic cooperation will be composed of private companies and experts invited by the Japanese government. It will examine the effectiveness and challenges of economic cooperation.

Currently, Japan has not signed an FTA or Economic Partnership Agreement (EPA) with any African country. Japan will strive to sign FTAs ​​with major countries such as Kenya, initially, and ultimately with the entire continent. The Japanese government will encourage Japanese companies to enter Africa by eliminating trade barriers such as tariffs.

Prime Minister Ishiba also mentioned the “Indian Ocean-Africa Economic Circle Initiative,” which aims to build a logistics network with India and Middle Eastern countries.