UAE explores ways to boost business relations with Japan

By Shilpa Annie Joseph, Desk Reporter
  • Follow author on
Representational Image

Dr. Thani Bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, has discussed ways to strengthen business relations between the countries with Mr. Kenji Ota, Chairman of the Japanese Business Council (JBC) in Dubai and General Manager at Mitsubishi Corporation for the Middle East.

According to the statement, they discussed ways to boost business tie-ups between Japanese firms and their UAE counterparts, increase Japanese investments in the Emirates, and promote the exchange of knowledge and technology.

JBC is one of the leading 41 foreign business councils registered with the Dubai Chamber of Commerce and Industry. The Council was established in 2009 with the membership of 32 Japanese companies operating in the UAE in order to support the Japanese business community in accessing business and investment opportunities in the Emirates and the wider region.

Dr. Thani bin Ahamed Al-Zeyoudi
Dr. Thani bin Ahamed Al-Zeyoudi
UAE Minister of State for Foreign Trade

“The UAE and Japan have shared visions for the future and are focused on investing in knowledge, innovation, technology, and sectors of the new economy. We are keen to move forward to a new level of trade and investment cooperation with Japan in these areas and build sustainable private sector partnerships that serve investors and business communities in the two countries. We are keen to consolidate the UAE’s position as a major destination for Japanese trade in the region and a vital gateway for its transit towards the Middle East and African markets. We will work with the Japanese business community to achieve this shared vision and continue developing partnerships in important sectors in line with future economic trends. These include artificial intelligence, applications of the fourth industrial revolution, information and communications technology, smart transport, space, renewable energy, health care, and tourism.”

The UAE Minister further noted that “the two friendly countries had made great strides in developing their economic partnership to reach the strategic levels seen today, as Japan is the eighth largest global trade partner of the UAE and the fourth largest among non-Arab Asian countries.”

As per the reports, Japan is one of the UAE’s largest investment partners in both outbound and inbound investments. Furthermore, UAE is Japan’s largest Arab trading partner and accounts for 36 percent of its total trade with Arab countries. The non-oil trade between the two countries reached nearly $12 billion (Dhs47 billion) by 2021 with more than 17.4 percent growth compared to 2020.

Related: Qatar’s Kahramaa & QEWC renew partnership deal with Japan-based Chubu