According to a Bloomberg report on May 31, Japan is supporting its companies in expanding business in Africa and developing trade relations with the entire African continent. Takahiko Matsuo, an official of the Japanese Ministry of Economy, Trade and Industry, said that this move aims to reduce reliance on China in areas such as minerals.
In an interview, he stated that after摆脱ing three decades of deflation, the risk appetite of the private sector in Japan has increased.
Takahiko Matsuo, an official of the Japanese Ministry of Economy, Trade and Industry, Bloomberg
"Today, there has been a huge change in the mindset of Japanese business leaders, who are now more proactive in expanding their global businesses," said Takahiko Matsuo. "Africa is one of the destinations where we expect Japanese companies to expand their influence."
The report pointed out that the Japanese government hopes to reduce its dependence on China, so it is focusing on key areas including critical minerals, base metals, and rare earths, while China happens to be Africa's largest trading partner.
"We are largely dependent on Chinese enterprises. I am not saying that we cannot cooperate with them, but relying solely on a single country may lead to certain vulnerabilities," said Takahiko Matsuo.
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