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Palestine and Japan Discuss Economic Partnerships

Japanese Minister of Economy, Trade and Industry Nishimura Yasutoshi today expressed his country’s support for the efforts of the Palestinian government to develop the Palestinian economy, especially the Jericho Agro-Industrial Zone project implemented with the help of the Japanese government.

During a joint meeting with Palestinian Minister of National Economy Khaled Oseily, held in the Jericho Agro-Industrial Zone, the Japanese Minister stressed strengthening cooperation and facilitating training and exchanging expertise between them.

He pointed out the importance of establishing partnerships between the Japanese and Palestinian private sectors, and striving to enable Palestine to obtain business agencies for the interest of the Palestinian economy, expressing his delight at the rapid development of the industrial zone and the production capacity of its factories.

The Japanese Minister said that building partnerships with more than 15 Japanese startups interested in building partnerships with the Palestinian sector in several fields will be proposed, in addition to inviting Japanese companies to establish partnerships and invest in Palestine.

He noted that there is an upcoming visit for 13 Japanese companies specializing in the field of information technology to learn about the situation of this promising sector in Palestine.

Minister Yasutoshi referred to an initiative to start a Palestinian-Japanese business forum in cooperation with the Japan International Cooperation Agency (JICA) and the Japan External Trade Organization (JETRO).

He stressed that Japan will continue to support the Jericho Agro-Industrial Zone and the construction of the road that exclusively connects the Jericho Agro-Industrial Zone with Jordan.

Minister Oseily thanked Japan for its support to Palestine in various sectors, especially the Agro-Industrial Zone in Jericho, which is one of the landmarks and evidence of the distinguished bilateral relationship between the two countries.

He briefed his Japanese counterpart on the latest developments in the Jericho Agro-Industrial Zone, which includes 16 agricultural and food industries and their supplements, and currently 10 factories are under construction, while investment in the industrial zone reached about $40 million.

He stressed the importance of developing trade and holding more joint meetings between Palestinian and Japanese businessmen, stressing the importance of institutionalizing the bilateral relationship through a memorandum of understanding. He also thanked Japan for the support provided by JICA in particular in providing training programs and building the capabilities of small and medium-sized companies to help them enter the Japanese markets.

He also stressed Palestine’s participation in Expo Japan 2025, urging facilitating the participation of the Palestinian private sector in this global forum.

The two sides also discussed ways to develop and strengthen economic cooperation and enable Palestinian products to access Japanese markets, as well as the possibility of matching production certificates and quality standards to facilitate exports.

The two ministers discussed, with a delegation of Palestinian and Japanese businessmen, joint projects and studied the possibilities of increasing economic cooperation and contracting partnerships with Japanese companies in the future, mutual visits between them, and the obstacles they face.

The Japanese Minister welcomed the private sector’s proposal to organize a student exchange program between Japan and Palestine.

Minister Oseily and his Japanese counterpart, heading a delegation of Japanese businessmen, toured the Palestinian Business Development and Prosperity Center, which provides quality services to micro, small, and medium-sized enterprises and entrepreneurs in Jericho and the Jordan Valley.

It is worth noting that in 2006, former Japanese Prime Minister Koizumi launched the “Peace and Prosperity Corridor” initiative to promote economic and social development and the independence of the Palestinian economy. The Jericho Agro-Industrial Zone is one of the main components of this initiative.

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