WHAT YOU STAND TO GAIN WHEN YOU ATTEND JAPAN-AFRICA ECONOMIC FORUM

 

With Africa as the fastest growing economy in the world, evidence suggests that Africa has now entered a cycle of strong economic growth. Investors are now positioning themselves to tap from the opportunities across the African continent.

Some of the benefits of attending Japan-Africa Economic Forum are:

·        New planned market opportunity: the forum will have attendees from different sector of the economy, so it is an opportunity network with new people and businesses.

·        Participants get useful market and business information through discussions at the forum.

·        Ability to meet business moguls that maybe impossible to meet outside such gathering and establish business relationship.

·        Asia is the home of industrialization, so this forum will give the opportunity to have direct contact with manufacturers.

JAPAN-AFRICA ECONOMIC AND INVESTMENT FORUM

Japan’s poor natural endowment has made the country dependent on the international market for natural resources. This is observed in the trading imbalance between Japan and Africa as a whole. In 2017, Japan exported $7.5bn in goods to Africa, one third of it to South Africa. In the same year, Japan imported $8.3bn from Africa, from which 57% were South African goods. 

The number of Japanese companies operating in Africa has increased from 520 in 2010 to 796 in 2017, but the Japanese government hopes to greatly increase that figure in the near future.  

Africa has natural resources which Japan needs and Japan has other resources such as technology which Africa needs. Therefore, Japan-Africa Economic Forum organized by Globe Chamber of Commerce and Industry will mutually benefit participants (business men and women, startups, government officials, etc) from Africa and Japan.

JAPAN-AFRICA ECONOMIC AND INVESTMENT FORUM

 

Japan is seeking to diversify the range of its trade partners in Africa and encouraging SMEs and startups to invest in the continent. Tokyo is encouraging the expansion of Japanese SMEs and startups in Africa and the number of big Japanese firms investing in Africa is also increasing.

In 2019, Japanese Prime Minister Shinzo Abe spoke at the opening of the seventh Tokyo International Conference on African Development, known as TICAD, a multilateral event that holds every three years, and on this occasion staged in the port city of Yokohama. He told African leaders gathered for the summit that his government was determined to step up its engagement with the continent. 

Japan-Africa Economic and Investment Forum is a mega business development programme, that will providing opportunities for Governments of different nations, business men and women from different sectors of the economy to plan the way out of the economic setback caused by the COVID 19 pandemic.

MULTILATERAL TRADE AGREEMENT

Multilateral trade agreements are commerce treaties among three or more nations. The agreements reduce tariffs and make it easier for businesses to import and export. They are difficult to negotiate because they are among many nations. Their broad scope makes them more robust than other types of trade agreements once all parties sign. 

Bilateral agreements are easier to negotiate but these are only between two countries. They don't have as big an impact on economic growth as does a multilateral agreement.

Note:

• Multilateral trade agreements strengthen the global economy by making developing countries competitive. 
• They standardize import and export procedures giving economic benefits to all member nations. 
• Their complexity helps those that can take advantage of globalization, while those who cannot often face hardships.

Benefits of Multilateral Trade Agreement:

·        All signatories treat each other equally. No country can give better trade deals to one country than it does to another.

·        It standardizes commerce regulations for all the trade partners.

·        Trade deals can be negotiated with more than one country at a time.

·        Participants enjoy low tariff which makes their export cheaper.

The major downside of Multilateral Trade Agreement they are complex which makes it difficult and time consuming to negotiate.

ASIA-AFRICA ECONOMIC FORUM

Africa is ready and open to investors, entrepreneurs and businesses with ideas and an appetite for risk can bring value and find long-term growth if they are persistent, creative and determined. 

Asia – Africa Economic and Investment forum 2021 is one of the proposed programs of Globe Chamber of Commerce and Industry. Its objectives will be to:

·            Provide new markets for businesses in Africa and Asia

·            Promote Foreign Direct Investment into Africa

·            Build solid networks for business owners and startups

·            Promote multilateral trade between Africa and Asia.

      The forum will indeed be a positive transformation point for countries and businesses of all sectors that participate.

ASIA-AFRICA ECONOMIC FORUM

 

With the recent good news about a breakthrough by Pfizer on a vaccine for COVID-19 that is over 90% effective, the world is ready again after being involved on a very long break as a result of the COVID-19 pandemic.

Speaking to news men from Abuja, yesterday, the President of Globe Chamber of Commerce and Industry, Hon. Buchi George, expressed optimism for next year’s program and said 2021 is a good time for us and we believe by then, everywhere will open up for us considering the new development as announced by Pfizer on their effective COVID-19 vaccine. 

Asia-Africa Economic and Investment Forum is a business development programme providing opportunities for Governments, business men and women from different sectors of the economy to network, deliberate and plan the way out of the economic setback caused by the COVID 19 pandemic.

WHY YOU SHOULD ATTEND ASIA-AFRICA ECONOMIC FORUM

 

Some of the benefits of attending the Forum are:

·        new planned market opportunity: the forum will have attendees from different sector of the economy, so it is an opportunity meet new people and businesses.

·        Participants get useful market and business information through discussions at the forum.

·        you get to meet with business moguls that maybe impossible to meet outside such gathering and establish business relationship.

·        Asia is the home of industrialization, so this forum will give you the opportunity to have direct contact with manufacturers.

·        Ability to meet other firms interested in the same market.