Ishiba to Unveil Regional Economic Development Plan
Japanese Prime Minister Announces New Economic Initiative Targeting Africa and Indian Ocean Region
Japanese Prime Minister Shigeru Ishiba has unveiled a new economic initiative aimed at strengthening ties with India, the Middle East, and Africa. The initiative, which will be discussed at the upcoming ninth Tokyo International Conference on African Development (TICAD) on Aug. 20-22 in Yokohama, Kanagawa Prefecture, seeks to create an "economic zone" linking the Indian Ocean region and Africa to boost trade, investment, and industrial development in Africa.
The initiative is designed to counter China's growing economic influence in Africa by leveraging Japanese firms' existing footholds in India and the Middle East. The plan aims to expand business activities and promote free trade within this economic zone.
In addition to economic development, the initiative emphasizes human resource development. Over the next three years, Japan plans to cultivate 30,000 artificial intelligence experts to support industrial digitalization and job creation in Africa. The government intends to collaborate with private sectors, local governments, and academia to implement this framework and foster innovative solutions for challenges faced by African countries.
By promoting regional integration and sustainable development with a focus on the private sector, youth, and women, Japan seeks to establish itself as a reliable partner for Africa. This approach positions Japan as an alternative to China's infrastructure and loan-driven model, fostering innovation, free trade, and technological cooperation to develop Africa's economy in a more sustainable and collaborative manner.
The new economic initiative is part of Japan's push for a free and open Indo-Pacific, signalling a broadening of its focus of regional economic cooperation beyond Southeast Asia. Shigeru Ishiba will chair the TICAD conference, bringing together African leaders to discuss measures to support the region. The initiative will be included in a joint statement to be adopted at the conference.
[1] Nikkei Asia - Japan to train 30,000 African AI experts under new economic initiative [2] Reuters - Japan to focus on Africa, Indian Ocean in economic initiative [3] Kyodo News - Japan to prioritize private sector, youth, women in Africa initiative [4] The Diplomat - Japan's New Economic Initiative Targets Africa and Indian Ocean Region [5] The Japan Times - Japan to expand economic cooperation with Africa and Indian Ocean region under new initiative
Read also:
- President von der Leyen's address at the Fourth Renewable Hydrogen Summit, delivered remotely
- Unveiling Innovation in Propulsion: A Deep Dive into the Advantages and Obstacles of Magnetic Engines
- Intensified farm machinery emissions posing challenges to China's net-zero targets
- EU Fuel Ban Alerts Mercedes Boss of Potential Crisis
