Japan-India-Africa Business Forum Held

On Wednesday, February 26, the Japan-India-Africa Business Forum was held in Tokyo, co-hosted by the Ministry of Economy, Trade and Industry and Nikkei. More than 2,000 participants joined the forum, with both virtual and in-person participation from over 46 countries and regions.

During the forum, speakers discussed how to fully utilize the potential of the enormous growth markets in India and Africa, and exchanged views on the challenges, the roles of the public and private sectors, and the outlook for building India as a business hub in this region.

Mr. Muto Yoji, Minister of Economy, Trade and Industry, delivered his opening remarks at the forum via a video message. In Minister Muto’s remarks, he reflected on the Japan-India economic relationship thus far and emphasized the need to recreate a rule-based international economic order in light of rising geopolitical uncertainty and growing trade protectionism. He stated that enhancing economic ties and activities with reliable partners like India is essential for the further economic development of not only the two countries but also the global economy.

Minister Muto also stressed the urgency of building a free and fair economic zone by promoting the Free and Open Indo-Pacific initiative, extending it to Africa while enhancing inter-regional connectivity. He highlighted the importance of collaboration with India to establish the necessary frameworks for Japanese companies to expand into Africa, a region with high growth potential. In this context, Minister Muto launched the Japan-India Cooperation Initiative for Sustainable Economic Development in Africa, aimed at promoting investment by Japanese companies in India and establishing business bases that will invigorate bilateral business with various African countries.

Moving forward, the Ministry of Economy, Trade and Industry will promote collaborative efforts among the public and private sectors of Japan, India, and Africa to foster inclusive and sustainable economic growth in Africa, focusing on enhancing the industrial clustering of Japanese companies in India, as well as expanding investment, job creation, and human resource development in Africa.

Related Material

• The Japan-India Cooperation Initiative for Sustainable Economic Development in Africa(PDF:274KB)

Related Links

• Japan-India-Africa Business forum
• Sixth India-Japan Industrial Competitiveness Partnership Vice Minister/Secretary-Level Meeting Held
• Initiative for Japan-India Industry Co-Creation(PDF:649KB)

Division in Charge

Southwest Asia Office, Trade Policy Bureau