Abu Dhabi [UAE], October 3 (ANI/WAM): Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, met Iwata Kazuchika, Japan’s newly appointed State Minister of Economy, Trade and Industry, in Abu Dhabi for talks on deepening the 2 international locations’ commerce and funding ties.
During the assembly, Al Zeyoudi underlined the energy of financial relations between the UAE and Japan, which he mentioned proceed to increase. In the primary half of 2023, the 2 international locations shared non-oil commerce price USD 7.4 billion, an increase of 4.2 p.c in comparison with the identical interval in 2022, with the UAE’s non-oil exports to Japan exceeding USD 718 million. Imports from Japan to the UAE amounted to USD 6.3 billion in H1 2023, whereas re-exports from the UAE to Japan reached USD 421 million.
The significance of the connection was additionally mirrored by an official go to from Japan’s Prime Minister Fumio Kishida to the UAE in July 2023, and the corresponding bilateral agreements that had been signed within the fields of vitality, trade, superior know-how, synthetic intelligence, house, well being, transport, and the round economic system.
Al Zeyoudi mentioned,”As the eighth largest global trade partner of the UAE in 2022 and the fourth largest among non-Arab Asian countries, Japan remains one of our most important foreign trade partners. With its rich legacy of innovation, and strong spirit of collaboration, Japan is also a key knowledge partner that is helping the UAE to advance our economic diversification efforts. By working together more closely, we can look ahead to enhancing trade exchange between our two nations, and to providing new investment opportunities for ambitious businesses both in the UAE and Japan.”As per the newest information, Japan is among the UAE’s largest funding companions. Japanese funding into the nation presently exceeds USD 3.3 billion, accounting for 3 p.c of complete FDI inflows, and 13 p.c of investments from non-Arab Asian international locations. At the identical time, the UAE is among the most essential Middle Eastern buyers in Japan, with funding valued at USD 1.2 billion on the finish of 2022, which represents 42 per cent of complete MENA area funding in Japan. (ANI/WAM)