ECIC and NEXI Ink Historic Reinsurance Deal at TICAD9 in Yokohama

The Export Credit Insurance Corporation of South Africa (ECIC) and Nippon Export and Investment Insurance (NEXI) have made history by signing a reinsurance agreement at the 9th Tokyo International Conference on African Development (TICAD9) in Yokohama, Japan. This agreement marks a significant milestone in the partnership between the two organizations, aiming to promote trade and investment between South Africa and Japan. The deal is expected to enhance the competitiveness of South African exporters and Japanese investors in the global market. By providing reinsurance coverage, ECIC and NEXI will be able to mitigate risks associated with international trade, thereby encouraging businesses to venture into new markets. The agreement is also anticipated to increase economic cooperation between South Africa and Japan, with a focus on infrastructure development, energy, and manufacturing. The TICAD9 conference, which took place from August 28 to 30, 2022, brought together leaders from Africa, Japan, and other parts of the world to discuss ways to promote economic development and cooperation. The signing of the reinsurance agreement between ECIC and NEXI was witnessed by high-ranking officials from both countries, including the Minister of Trade, Industry and Competition of South Africa and the Minister of Economy, Trade and Industry of Japan. The agreement is seen as a major breakthrough in the efforts to strengthen economic ties between South Africa and Japan. ECIC and NEXI have been working together to identify areas of cooperation and have agreed to collaborate on various projects, including the development of infrastructure and the promotion of trade and investment. The reinsurance agreement is expected to have a positive impact on the economies of both countries, creating new opportunities for businesses and investors. The deal is also anticipated to contribute to the growth of trade between South Africa and Japan, which has been increasing steadily over the years. In 2020, trade between the two countries reached a record high, with South African exports to Japan valued at over $1 billion. The signing of the reinsurance agreement is seen as a significant step towards further increasing trade and investment between the two countries. ECIC and NEXI have expressed their commitment to working together to promote economic development and cooperation between South Africa and Japan. The agreement is also expected to have a positive impact on the African continent as a whole, as it will help to promote trade and investment between Africa and Japan. The TICAD9 conference was attended by leaders from over 50 African countries, who gathered to discuss ways to promote economic development and cooperation. The conference also provided a platform for businesses and investors to network and explore new opportunities. The signing of the reinsurance agreement between ECIC and NEXI was one of the major highlights of the conference, and it is expected to have a lasting impact on the economies of South Africa and Japan. In conclusion, the reinsurance agreement between ECIC and NEXI is a significant milestone in the partnership between the two organizations, and it is expected to promote trade and investment between South Africa and Japan. The deal is also anticipated to contribute to the growth of trade between the two countries and to have a positive impact on the economies of both countries. With the signing of the agreement, ECIC and NEXI have demonstrated their commitment to working together to promote economic development and cooperation between South Africa and Japan.

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