ABU DHABI, seventeenth July, 2023 (WAM) — Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, mentioned the UAE and Japan get pleasure from robust and rising commerce relations primarily based on a protracted historical past of friendship and cooperation, aided by their leaderships’ help, which is mirrored by mutual official visits, together with the present official go to of Fumio Kishida, Prime Minister of Japan, to the UAE.
In his assertion to the Emirate News Agency (WAM), Al Zeyoudi highlighted the rising non-oil bilateral commerce between the 2 nations, valued at US$14.7 billion in 2022, a ten p.c enhance in comparison with 2021.
Imports from Japan to the UAE amounted to US$12 billion in 2022, whereas non-oil Emirati exports to Japan totalled US$1.78 billion throughout the identical interval, and complete re-exports from the UAE to Japan amounted to US$950 million final 12 months, he added.
Furthermore, Al Zeyoudi famous that the UAE and Japan are persevering with to spice up their general strategic cooperation, most notably in areas of commerce, including that Japan is among the many prime 10 international buying and selling companions of the UAE.
He then highlighted the UAE’s position as Japan’s primary commerce associate amongst Arab nations, accounting for greater than a 3rd of Japan’s Arab commerce. The two nations even have robust ties in funding, with Japan being a favoured vacation spot for the UAE’s international direct investments, he added.
In 2022, the UAE invested US$268 million in Japan, focussing on three key sectors: healthcare, warehousing and storage, and monetary providers, he added, stressing that the UAE is eager to strengthen its position as a serious hub for Japanese commerce within the Middle East and Africa.
The UAE is the principle gateway for Japanese merchandise to entry native markets, by boosting re-export actions which have grown significantly in recent times, Al Zeyoudi additional mentioned, affirming that the partnership between the 2 nations is a mannequin of friendship to be emulated worldwide, as they share a typical imaginative and prescient for the long run and each put money into data, innovation, expertise and new financial sectors.
Therefore, they collectively work to boost their cooperation and create lasting partnerships that profit each side, he mentioned in conclusion.