UAE, Japan strengthen strategic partnership, sign MoUs
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UAE, Japan strengthen strategic partnership, sign MoUs

UAE, Japan strengthen strategic partnership, sign MoUs

The two sides reviewed the Comprehensive Strategic Partnership Initiative, focusing on joint projects aimed at sustainable economic growth

Gulf Business
UAE-Japan sign MOUs

To bolster economic collaboration and advance sustainable development, Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, recently held a high-level meeting with Japanese Prime Minister Fumio Kishida.

The visit marked a significant step in the enduring relations between the UAE and Japan, emphasising mutual aspirations for sustainable economic growth and technological innovation, the state news agency, WAM, reported.

The UAE delegation included Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Shihab Al Fahim, UAE Ambassador to Japan.

During the discussions, Dr Al Jaber conveyed greetings from the UAE’s President Sheikh Mohamed bin Zayed Al Nahyan and expressed wishes for Japan’s continued progress and prosperity.

The two sides reviewed the Comprehensive Strategic Partnership Initiative, focusing on joint projects and programmes aimed at sustainable economic growth and strengthened cooperation.

The visit is part of ongoing efforts to bolster relations between the two nations. Dr. Al Jaber also engaged with key Japanese officials, including Kamikawa Yoko, Minister of Foreign Affairs; Ken Saito, Minister of Economy, Trade, and Industry; Taro Kono, Minister for Digital Transformation; and Yoshimasa Hayashi, Chief Cabinet Secretary.

Meetings with CEOs of leading Japanese corporations, including Japan Bank for International Cooperation (JBIC), Mitsui, Inpex, Jira, Itochu, Hitachi and SoftBank Group underscored the UAE’s commitment to advancing economic and social development.

Discussions centred on securing energy supplies, leveraging artificial intelligence to enhance energy sector performance, and fostering low-emission economic growth.

Discussions covered clean energy projects

Dr Al Jaber emphasised the UAE’s early adoption of clean energy projects and called for increased investments to meet global energy demand.

Dr Thani Al Zeyoudi highlighted Japan’s status as a key trading partner, with bilateral relations witnessing significant growth. Japan ranks as the UAE’s ninth largest trading partner globally and fifth within the Gulf Cooperation Council, with the UAE being Japan’s largest GCC trading partner.

A key outcome of the visit was the signing of a memorandum of understanding between ADNOC and JBIC for green financing worth $3bn. This agreement supports ADNOC’s efforts to reduce emissions and adopt low-carbon solutions.

Read: ADNOC, JBIC ink $3bn green financing agreement

Another Memorandum of Cooperation was signed with the Natural Resources and Energy Agency to enhance energy security and sustainability.

Dr Al Jaber’s meeting with Foreign Minister Kamikawa Yoko lauded the development of UAE-Japanese relations within the strategic partnership framework. Economic cooperation was further explored with Ken Saito, focusing on trade, investment, energy, renewable energy, and advanced technology. A meeting with Taro Kono addressed cooperation in digital transformation and artificial intelligence.

The UAE delegation, including Dr Thani Al Zeyoudi and other high-ranking officials, underscored the UAE’s role as a reliable energy supplier and strategic partner, WAM reported.

In April, the UAE supplied Japan with 35.8 million barrels of oil, accounting for over 45 per cent of Japan’s imports.

The UAE also sent the world’s first certified shipment of low-carbon ammonia to Japan.

Mubadala Investment Company announced its first renewable energy projects in Japan through PAG’s platform, aiming to expand solar energy services in the Asia-Pacific region, with a focus on Japan.

UAE-Japan trade

In 2023, the UAE accounted for 60 per cent of foreign direct investment flows to Japan from the Middle East and attracted 82 per cent of total Japanese investments in the region.

Total trade exchange between the two countries reached $47.4bn, with non-oil trade amounting to $15.6bn, a 6.1 per cent increase from 2022.

The UAE remains Japan’s top trading partner within the GCC.

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