Africa-Press – Angola. The acting chairman of the African Union (AU), Angolan Head of State, João Lourenço, on Wednesday in the city of Yokohama, Japan, called for greater involvement of Japan in the implementation of the African Continental Free Trade Area (AfCFTA).
Speaking at the opening of the TICAD9 Business Fair, he emphasized that Africa’s development vision is embodied in the African Union’s Agenda 2063, explaining that this agenda foresees a joint effort over the coming decades, based on strategic partnerships with major international players, including Japan.
The Angolan statesman reiterated that the AfCFTA provides “a vast field of opportunities”, with unlimited business prospects, in which Japan could play a fundamental role by contributing to improving the living conditions of the African population.
João Lourenço also highlighted the importance of Japanese cooperation in projects related to energy transition, digital transformation, human capital development, industrialization and value-added to African economies.
In this context, he invited Japanese investors to join the Lobito Corridor, a transnational initiative that according to the statesman, will “revolutionize transportation and international trade,” reducing travel time and costs between Asia, Africa, Europe and the Americas.
The TICAD Business Fair is a platform for connecting African and Japanese businesspeople, aiming to build strategic investment partnerships in sectors such as energy, agriculture, manufacturing and the digital economy.
The African Continental Free Trade Area, was created in 2018 and aims to boost intra-African trade, reduce customs barriers and establish a common market capable of strengthening the continent’s competitiveness on the international stage.
President João Lourenço said that it was with great interest that he received the invitation to open the business forum, in his capacity as President of the Republic of Angola, as well as, the acting African Union leader.
To him the aforementioned event, is a timely initiative that takes place on the sidelines of the 9th TICAD Conference, whose theme “Co-creating Innovative Solutions for Africa”, provides a vast field for the articulation of ideas and achievements, which will give even greater consistency to relations between the African continent and Japan.
TICAD as a Platform for Dialogue
João Lourenço noted that TICAD conferences have been an important platform for dialogue between Africa and Japan since it was created in 1993.
He argued that these platforms have addressed the main concerns of the African continent and evaluated Japan’s availability and possibilities to use Japanese resources and technical capacity to support Africa’s development.
All of this, combined with the potential that the African continent offers, so that within a framework of cooperation with mutual benefits, “we all benefit from this exchange,” he said.
In this regard, he recalled that during TICAD 8, held in Tunisia in 2022, Japan announced a substantial investment of US$30 billion to finance Africa’s public and private sectors over the next three years.
He emphasized that this financing covers a variety of areas, from private sector support to human capital development and green growth initiatives.
João Lourenço included in this set of priorities the issue of food security in Africa, to which Japan “has expressed a firm commitment,” contributing to the construction of an increasing trust between the parties, as partners driven by “quite significant” common interests.
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