Japan’s economic presence is currently worth R90 billion. Mashatile hopes to attract investment in Operation Vulindlela, green energy, disaster relief, debt relief, and mining.
On Wednesday, Mashatile concluded his meeting with Japan’s Prime Minister, Shigeru Ishiba, and Chief Cabinet Secretary, Hayashi Yoshimasa, in which bilateral trade relations were discussed. He described these meetings as indicative of the existing people and trade connections between the two nations. Deputy President Paul Mashatile addressed the status of diplomatic and economic relations between South Africa and Japan during a working visit to mark 115 years of bilateral ties.
He referenced Japan’s economic presence in South Africa, which include R90 billion worth of investments, and "have developed in the fields of trade and investment, science and technology, and education and skills development assistance. Japan has 273 firms operating in South Africa, sustaining over 200,000 local employment opportunities.”
At the United Nations University in Tokyo, Mashatile noted the Strategic Cooperation Partnership established in 2010 between the two countries. Cultural exchanges were also addressed during the visit. Mashatile toured the Meiji Jingu forest and commented on the role of nature in societal development, connecting it to the African concept of “ubuntu.”
But aside from the warm symbolic gestures, Mashatile pointed out four areas he is seeking Japanese investment in disaster resilience and responses (particularly flood damage), debt relief (for other African countries as well), finance for green energy projects, and of course, mineral resource extraction (all of which come with BEE components).
He also particularly touted Operation Vulindlela, a major state investment in private contracting connected to BEE opportunities for officials and connected elites, focusing on the Durban-Johannesburg trade corridor.
Mashatile also discussed South Africa’s G20 leadership under the theme ‘Solidarity, Equality, Sustainability.’ He expressed intent to align this with “Vision 2063” for an Africa integrated into the global community and active in economic and socio-political spheres. “We believe that in an interconnected world, the challenges faced by one country have an impact at a global level,” he said.
He identified climate change, rising nationalism, and economic instability as issues requiring global cooperation. “Our challenges can only be resolved through cooperation, collaboration, and partnership; no challenge and no triumph exist in isolation. Cooperation is a key factor,” he stated.
