Japan is ranked tenth globally in the list of countries investing in the UAE, and eighth globally in terms of non-oil trade, which reached US$8.95 billion in the first ten months of 2020, reports Asian Lite News
The UAE and Japan are looking to put together a business council. During the virtual meeting between Dr. Thani bin Ahmed Al Zeyoudi, minister of State for Foreign Trade, and Hiroshi Kajiyama, Japan’s minister of Economy, Trade and Industry, both sides approved the formation of an joint team tasked with putting together a UAE-Japanese business council, to improve the partnership between the Emirati and Japanese business communities towards creating opportunities for companies in both countries.
It would also aim to generate added value from joint investments, provide information and services for investors, and encourage communication between relevant government authorities.
The officials also discussed means of boosting mutual trade and investments and facilitating the movement of imports and exports between the countries.
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Al Zeyoudi said that the partnership between the UAE and Japan is reflected by positive economic indexes, with the value of Japanese direct investments in the UAE since the start of 2020 totalling $4.01bn, a growth of 22.6 per cent from 2015 until 2020. Japan is ranked tenth globally among the list of countries investing in the UAE, and eighth globally in terms of non-oil trade, which reached $8.95bn in the first ten months of 2020, he added.
“We will continue advancing our bilateral cooperation in target areas and sectors that support the economy of the future, especially technology, electronics, advanced industries, medical research, space sciences, automation, artificial intelligence and entrepreneurship. The UAE-Japanese business council will play a key role in this regard,” Al Zeyoudi said.
Kajiyama highlighted his country’s desire to reinforce its relations with the UAE, most notably in the energy sector. He also stressed his country’s eagerness to actively participate in Expo 2020 Dubai, official news agency WAM reported.
Entities across both countries have collaborated earlier as well. The Mohammed Bin Rashid Space Centre (MBRSC) signed an agreement with Japan’s ispace earlier this year, by virtue of which the latter will provide payload delivery services to the Emirates Lunar Mission.
Japan to open tourism promotion office in Dubai
Last month, Japan National Tourism Organisation (JNTO) said it will establish an office in Dubai within 2021, as part of its strategic efforts to achieve the Japanese government’s goal of welcoming 60 million international visitors to Japan by 2030.
It is the first such office by JNTO to open in the Middle East, and will be a focal point for the organisation’s promotional efforts in showcasing Japan as a preferred travel destination for residents in the region. JNTO has positioned the Middle East as a priority market and will promote tourism exchange between the Middle East and Japan in order to strengthen the relationship between the two.
JNTO President, Satoshi Seino, said: “JNTO is proud to open an office in Dubai, United Arab Emirates this year, which will be the first office to open in the whole Middle East by JNTO. Japan is a country with a long history, abundant nature and a unique culture. We are internationally renowned for our delicious cuisine, beaches, skiing, pop culture, shopping, and historic wooden architecture such as shrines and temples. A trip to Japan will surely be an unforgettable and special experience. To all in the Middle East, we look forward to welcoming you in Japan.”
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