TOKYO, twelfth September, 2023 (WAM) — An official from the Japan Cooperation Centre for the Middle East (JCCME) stated the relations between Japan and the United Arab Emirates are stable, stressing that the 2 nations are intently linked in a variety of fields from oil to tradition and prospects for future cooperation are trying good.
In an interview with the Emirates News Agency, JCCME Executive Director Manabe Takashi stated that the UAE has the most important variety of Japanese firms within the Middle East. About 330 Japanese firms are working within the nation at current. By distinction, there are about 100 Japanese firms in Saudi Arabia.
Manabe stated that in recent times there was an enlargement within the vitality sector, the equipment trade has turn out to be extra diversified, and the manufacturing, transportation, monetary and providers sectors have all expanded. He attributed this enlargement to many components.
“One of the factors is the UAE’s policy of openness to foreign capital,” he stated, citing for example the modification of the Commercial Companies Law on overseas funding in September 2020, and the abolition of a requirement that overseas funding capital be greater than half of the overall sum invested.
He stated that the Japan Cooperation Centre for the Middle East helps Japanese investments within the UAE, including, “I think the policy of welcoming foreign capital is very good.”
In response to a query about probably the most promising sectors aside from vitality that may appeal to Japanese universities and companies to the UAE, he stated that there are areas wherein every firm can develop its strengths in the event that they method concepts from a wider perspective, even when it’s a small firm. “I do not think it is always important to identify a field first. However, the first thing that comes to mind regarding energy is that Abu Dhabi will host the 28th edition of the World Climate Conference (COP28) this year.”
On the UAE’s objective of decreasing greenhouse gasoline emissions to zero by 2050, he stated, “While Abu Dhabi is working hard on developing renewable energy, Japanese companies have different technologies, so I think there are many opportunities in areas other than traditional fossil energy. In addition, we hear from many companies that there are promising areas such as medical and healthcare, food, smart cities and innovation, which are all outside the field of energy.”
“As a concrete example, we have held a joint conference called the Abu Dhabi-Japan Economic Council between Abu Dhabi and the Japan Cooperation Centre for the Middle East every year since 2011. Every year, dozens of businessmen from Japan and Abu Dhabi – not the UAE as a whole – participate in conferences to discuss industrial cooperation.”
Manabe referred to the March convention this 12 months, which was chaired by the Minister of Economic Development of the Emirate of Abu Dhabi and was attended by greater than 50 folks. “There are now working groups in the areas of sustainable energy, infrastructure and education,” he stated. “They meet several times a year to introduce the technology of Japanese companies, and at the same time, to familiarise themselves with the investment environment in Abu Dhabi, and they are eager to pave the way for business promotion.”
On the visa-exemption settlement for nationals of Japan and the UAE that was concluded not too long ago and the way it may help bilateral relations, Manabe stated, “I think it contributes greatly to the increase in the number of tourists. And the people of the Emirates can see more about Japan. I believe there are big companies, start-ups, and many attractions in Japan, and since tourism is of interest to all businessmen, I expect economic cooperation to advance, and I hope education and research exchanges will become more active.” He identified that the mission of the joint coordination centre between the 2 nations is to increase relations.
In response to a query about what sectors in Japan may welcome enterprise and funding from the UAE, Manabe replied, “The first thing that comes to mind is the COP28 climate conference, and the sectors in which Japanese companies have advanced carbon removal technologies. I think it’s one of the most promising areas.” He famous how Japanese Prime Minister KISHIDA Fumio concluded quite a few agreements on his go to to the UAE in July.
Manabe talked about three examples associated to the sphere of superior applied sciences: the Japan-UAE Advanced Technology Cooperation Program (JU-CAT) for decarbonisation expertise; the ESIA Framework for Energy Security; and the Japan Semiconductor and Batteries Investment Cooperation Framework.
“It’s good for UAE companies to look into these areas and see what they can do there,” Manabe stated.