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Japan to develop specialists in African trade insurance for Japanese companies

  • August 20, 2019
  • , Nikkei , p. 5
  • JMH Translation

The Ministry of Economy, Trade and Industry and Nippon Export and Investment Insurance (NEXI) will join hands with the Kenya-based African Trade Insurance Agency (ATI) and the Saudi Arabia-based Islamic Development Bank to develop human resources to work with Japanese businesses at the two institutions, which are very familiar with the African market. NEXI will take in human resources and provide training to them. The plan is to reduce the risks borne by Japanese companies entering Africa, such as becoming involved in a conflict, by providing them with trade insurance issued by overseas institutions.

 

Trade minister Hiroshige Seko and senior officials of NEXI, ATI, and the Islamic Development Bank will sign a memorandum of understanding for cooperation on Aug. 27. They will also confirm a plan for ATI to set up a “Japan Desk” to work with Japanese companies. NEXI will hold a briefing session for Japanese companies to coincide with the 7th Tokyo International Conference on African Development (TICAD), which will begin in Yokohama on Aug. 28. (Abridged)

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