The Japan International Cooperation Agency (JICA) has disclosed that it is collaborating with the Africa Continental Free Trade Area (AfCFTA) to maximise the benefits of the trade pact for businesses in Africa.
The discussions are to explore the possible areas of cooperation between the two sides for JICA to invest resources and technical expertise to help enhance the opportunities for businesses.
Meanwhile, the agency is also collaborating with the World Bank Group on what the two can do to ensure that the private sector is well equipped to participate in and benefit fully from the initiative.
The Vice President of JICA, Ryuichi Kato, noted that Japan, through its international assistance agency has been a critical component of private sector development in Africa and would continue to support critical stakeholders in the continent to create opportunities for businesses.
Mr Kato intimated that the agency saw the AfCFTA to be a great opportunity for opening up trade among African countries and efforts to maximise its gains would be prioritised. He thus, stated that while the free trade area is critical to Africa’s development, its successes could be limited if the right programmes are not put in place.
Mr Kato noted that, it is reason why JICA opened discussions with the Secretariat in Accra to explore the avenues to create the enabling environment for businesses to thrive. He disclosed that similar discussions are ongoing with the World Bank for a better perspective on how international agencies can make the initiative a bigger success.
Mr Kato was hopeful that the discussion would be concluded soon to pave the way for a framework through which JICA can assist the AfCFTA Secretariat to maximise the gains of the pact.
Building Resilient Africa
Touching on how to build a resilient, inclusive, and prosperous Africa, the JICA Vice President noted that the TICAD8 would discuss in delay how Japan and JICA would can support the various countries further to recover from the ravages of the COVID-19 pandemic and the ongoing Ukraine/Russia war. He also added that discussions would cover food insecurity, climate change and debt sustainability.
Mr Kato, moreover, indicated that discussions would also examine how to balance development approach in the long term with humanitarian assistance for emergency in the short term. He noted it would further explore the potential of Africa’s youth and innovation and how to to create better conditions for them to utilise their talents.
The Vice President of JICA, Ryuichi Kato, was speaking on the partnership during a virtual press interaction with journalists across Africa. The press conference was co-hosted by Mr Kato and the Deputy Director-General of the Department of African Affairs in the Japanese Ministry of Foreign Affairs (MOFA), Tadayuki Miyashita, who spoke through interpreters. It was a precursor to this year’s Tokyo International Conference on African Development (TICAD) in Tunis, Tunisia.
The eighth edition of the annual conference, this year’s TICAD is scheduled to take place from August 27 to 28 in the Tunisia capital. It will be co-hosted by the MOFA and JICA, Japan’s international development assistance arm.
The JICA Vice President made a presentation titled: ‘JICA’s development cooperation in Africa under the global multiple crises; 30 years of TICAD assets & perspective towards TICAD8.’
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