- Egypt has a huge growth force and played a leading role in supporting emerging and developing countries
By ; Adel Farig – Peter Nabil
Coinciding with the recent visit by President Abdul-Fattah al-Sisi to Japan to participate in the G20 Summit, held in Osaka at the invitation of the Japanese Prime Minister, whose country holds the current chairmanship of the Group, in the light of Egypt's presidency of the African Union. The media center of the Council of Ministers, Infograva reviewed the most important information about the G20, as well as the reasons for inviting Egypt to participate in the summit of the group, as well as highlight the most important aspects of Egyptian-Japanese cooperation, and finally the most important indicators of the Japanese economy.
Where Egypt received an invitation to participate in the G20 summit, a forum established in 1999, consisting of 19 member states, in addition to the European Union, aims to combine the economic systems of developing countries and industrialized countries to develop global policies to address Challenges and stability in the global economy. The group's members are: USA, Canada, Mexico, Britain, France, Italy, Germany, Russia, Turkey, China, India, Indonesia, Japan, South Korea, Saudi Arabia, Argentina, Brazil, Australia and the European Union.
14.9 trillion dollars
The population of the G20 group reaches 66% in 2018, while the Group's exports to the world reached 77.6%, amounting to 14.9 trillion dollars in 2018. The ratio of the Group's economy to the world economy is 86.5% 2018, while the gross domestic product of the 20 countries (GDP) $ 73.3 trillion in 2018, while the voting power of the Group (G20) in the International Monetary Fund to 78.1% in June 2019, the voting power Of the Group in the World Bank to 76% in April 2019.
Achievements of Egypt
Egypt's economic reforms and the position of Egypt in Egypt are behind this choice. Egypt has been able to improve the investment climate thanks to its capabilities and capabilities, as well as improving its classification in international reports, as well as taking serious measures for reform. The liberalization of the exchange rate, the steady increase in foreign exchange reserves, the implementation of many regulatory reforms, notably the new investment law and the Companies Law. Egypt is also a party to more than one hundred BITs and its membership in several organizations, World Trade Organization (WTO), COMESA and the GAFTA are one of the most important capacities that have increased the opportunities for attracting foreign investment.
The role of Reddy in the continent
As for Egypt's leading role in the African continent, Egypt was one of the founding countries of the Organization of African Unity in 1963, and in June 2008 Egypt hosted the African Union Summit in Sharm El-Sheikh. In July 2014, the Egyptian Agency for Partnership for Development As well as the hosting of Sharm El-Sheikh for the third consecutive year in 2018, next to Egypt's assumption of the presidency of the African Union in 2019.
In the same context, the total volume of Egyptian exports to the G20 countries - excluding EU exports - reached $ 13.7 billion in 2018. The top six exports to the Group in 2018 are crude oil, fertilizers, fresh fruits, Natural gas, carpets, floor coverings, and ready-made clothes. Egypt's exports to Italy amounted to $ 2,041 million, Turkey $ 2,004 million, the United States $ 1,718 million, Saudi Arabia $ 1,430 million, Britain $ 1,338 million, and Japan $ 132 million.
On the other hand, the volume of Japanese investments in Egypt reached about 880 million dollars so far. The value of investments in 2017/2018 reached 162.1 million dollars, compared with 93 million dollars in 2016/2017, an increase of 74.3 The number of Japanese companies investing in Egypt reached about 106 companies with investments worth 360 million dollars.
The JICA office was established in Egypt in 1977. Since then, JICA has continued to cooperate with Egypt in various sectors, notably comprehensive and sustainable growth, poverty reduction and the improvement of living standards, And the development of the human resources and the development of the public sector. The Agency also contributes to several projects in Egypt, the most important of which is the construction of the Grand Egyptian Museum, the expansion of the Suez Canal, the Jebel El Zayt wind power plant, the first phase of the Fourth Line, Upper Suez Canal, a Lyra project to establish the Egyptian Opera House, where it is "JICA" one of the government agencies responsible for technical cooperation among Japan's official development assistance program
Improved investment climate
Hiroyoqed Ishigi, President of Japan's JETRO Organization, praised the investment climate in Egypt, stressing that there are excellent opportunities for investment in Egypt and the aim of Japanese companies to invest in order to benefit both countries. "Egypt has played a leading role in supporting "Satoshi Ozawa, chairman of the Japan-Egypt Business Council, also praised the Egyptian economy, stressing that it has witnessed steady growth as well as the stability of the political climate.
As for the most important information about the State of Japan, it is divided into 47 provinces, and its main cities and major provinces (Tokyo-Hokkaido-Tohoku-Chubu-Kyoto-Shikoku-Kyushu-Chugoku), with a population of 126.4 million By the end of September 2018.
Finally, in terms of the most important indicators of the Japanese economy in 2018, the GDP at current prices reached 4.97 trillion dollars, a real growth rate of 0.8%, and the average per capita income of Japan annually 39.3 thousand dollars, and the unemployment rate And the total foreign direct investment reached $ 213.7 billion. Total foreign reserves also reached $ 1.3 trillion, while total government debt reached about $ 11.8 trillion .
Japan's total exports reached 738.2 billion US dollars in 2018. The main commodities exported are 20.9% - electronic products 20.4% - machinery and equipment 20.1% - iron 4.1% - plastics and their products 3 , Followed by the United States of America (19%), South Korea (7.1%), Taiwan (5.7%) and Hong Kong (4.7%). %.
Japan's total imports reached $ 748.4 billion in 2018. The main commodities imported are oil and gas (23.3%), electronic products (17.2%), machinery and equipment (9,7%), medicines (3.4%), vehicles , China (23.2%), the United States of America (11.2%), Australia (6.1%), Saudi Arabia (4.5%), South Korea (4.3%