SHARJAH, ninth March, 2023 (WAM) — The Sharjah Chamber of Commerce and Industry (SCCI) has signed a Memorandum of Understanding (MoU) with the Japan External Trade Organisation (JETRO) in Dubai, marking a major milestone of their efforts to strengthen commerce relations and develop mutual cooperation.
The MoU was signed within the presence of assorted high-level officers and dignitaries, together with Abdullah Sultan Al Owais, Chairman of the SCCI; Mitsuhito Sendai, Executive Vice President of JETRO; members of the Chamber’s Board of Directors, and Mohammad Ahmed Amin Al Awadi, Director-General of the Chamber, through the Sharjah-Japan Business Forum.
As per the settlement, each events will facilitate the change of commerce delegations and discussions associated to export and economic system. They will even help follow-up visits and coordinate efforts to ascertain and increase a commerce community between the 2 areas. The MoU additionally consists of provisions for exchanging commerce knowledge and statistics, exploring alternatives for joint analysis actions, and collaborating in financial occasions, exhibitions, and conferences to advertise their respective companies and industries.
The SCCI and JETRO hope that via these collaborative efforts, they’ll foster better financial development and create new alternatives for his or her respective communities.
Al Owais expressed his satisfaction with the signing of the MoU, stating that it could assist to additional strengthen the robust ties between the UAE and Japan. He highlighted that the commerce change between the 2 international locations witnessed a major enhance in 2022, reaching AED 198.6 billion, an increase of 58.7 % in comparison with AED 125.14 billion in 2021.
Furthermore, the UAE’s exports to Japan elevated by 68.7 % to AED 167.4 billion in 2022, whereas imports from Japan rose by 20.5 % to AED 31.1 billion throughout the identical interval.
Al Owais emphasised that these figures replicate the sturdy financial and funding relations between the 2 international locations and supply a strong platform for the Chamber and JETRO to encourage extra partnerships and investments between the personal sector firms on either side. Through such efforts, the enterprise communities in each international locations can construct their capabilities and contribute to the continued development of the economic system.
For his half, Mitsuhito Sendai emphasised the robust financial ties between the UAE and Japan and highlighted the significance of the discussion board in exploring alternatives for cooperation, significantly within the industrial sectors.He famous that the Emirate of Sharjah gives an excellent surroundings for Japanese firms to put money into because of its infrastructure, logistics providers, and world-class free zones.
Sendai additionally lauded the progress, prosperity, and variety of financial sectors and funding alternatives in Sharjah, which open up extra avenues for financial partnerships with Japan. He additional acknowledged that the MoU signed with the Sharjah Chamber will increase joint commerce cooperation and promote Japanese firms’ investments all through the UAE.