Japan PM Urges Increase in African Business Ties

Japan should increase its business links with the fast-growing economies in Africa, “the continent that carries the hopes of the world”, Prime Minister Shinzo Abe has said.

Speaking in the Ethiopian capital, Addis Ababa at the end of his first tour of the continent, he also pledged to increase aid and investment.

Mr Abe said he would increase support for peacekeeping in South Sudan.

His visit is seen as an attempt to rival China’s huge influence in Africa.

Mr Abe said Japan’s priorities would be the continent’s young people and women.

“We will centre the axis of Japan’s diplomacy toward Africa on two groups: Young people, who will without a doubt shoulder the responsibility for the future Africa, and women, who will give life to Africa’s future generations.”

For Africa’s women, Prime Minister Abe said that he wanted to provide educational and training opportunities, and to increase school admission rates for girls.

“‘Abenomics’ will not succeed without ‘womenomics’,” the prime minister added, in a reference to economic reforms he has introduced in Japan.

As part of the deal, he pledged an aid package of $320m (£190m) for the region, including $3m (£1.8m) and humanitarian assistance to support the peace mission in the Central African Republic.

He also announced assistance worth $25m (£15m) to tackle the crisis in South Sudan, where recent fighting has left more than 1,000 people dead.

Japan currently has some 400 troops deployed to the region as part of the UN peacekeeping force.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza