UAE, Japan discuss developments in comprehensive strategic p'ship

The meeting was attended by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Shihab Al Fahim, UAE Ambassador to Japan.

During the meeting, Dr. Al Jaber conveyed greetings from President His Highness Sheikh Mohamed bin Zayed Al Nahyan, to the Japanese Prime Minister, along with his best wishes for continued progress and prosperity for Japan and its people.

The two sides discussed the latest developments in the Comprehensive Strategic Partnership Initiative and the implementation of joint projects and programmes within this framework.

This visit comes as part of the efforts to strengthen the enduring relations between the two friendly countries, and their aspirations to achieve sustainable economic growth, and to enhance the prospects for joint cooperation and ways to develop it in various fields, within the framework of the comprehensive strategic partnership initiative that was launched during the visit of Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of Abu Dhabi Executive Council, to Japan in September 2022.

During the visit, Dr. Sultan Al Jaber met with Kamikawa Yoko, Japanese Minister of Foreign Affairs, Ken Saito, Minister of Economy, Trade, and Industry, Taro Kono, Minister for Digital Transformation, and Yoshimasa Hayashi, Chief Cabinet Secretary of Japan.

Dr. Al Jaber also met with Chief Executive Officers of Japan Bank for International Cooperation (JBIC), Ineos, Mitsui & Co., Inpex, Jira, Itochu, Hitachi, and SoftBank Group.

The visit witnessed the signing and announcement of new strategic and vital partnerships between the two countries. A memorandum of Understanding was signed between ADNOC and the Japan Bank for International Cooperation (JBIC) for green financing worth $3 billion. A Memorandum of Cooperation was also signed regarding strategic reserves between ADNOC and the Natural Resources and Energy Agency (affiliated with the Japanese Ministry of Economy, Trade and Industry - METI) aimed at enhancing cooperation between the two countries in the field of energy and ensure its security and sustainability.

During his meeting with Kamikawa Yoko, Minister of Foreign Affairs, Dr. Sultan praised the UAE-Japanese relations, which are witnessing remarkable development within the framework of the comprehensive strategic partnership. The talks included the latest developments in the implementation of joint projects, programs and initiatives and enhancing cooperation horizons.

Dr. Sultan Al Jaber also met with Ken Saito, Japanese Minister of Economy, Trade, and Industry.

Dr. Sultan Al Jaber held a meeting with Taro Kono, Minister of Digital Transformation, where the two sides affirmed their keenness to cooperate in the field of advanced technology and digital transformation, including artificial intelligence and its applications in various vital sectors, supporting and encouraging related industries, and working to explore investment opportunities and joint projects in these areas.

The UAE is a source of about 60 percent of foreign direct investment flows to Japan from the Middle East during the year 2023, while the UAE attracted about 82 percent of the total Japanese investments in the Middle East countries during the same year (an increase of 71 percent from the year 2022), mainly covering diverse sectors such as technology, renewable energy and transportation.

The total trade exchange between the two countries in 2023 amounted to about $47.4 billion (including petroleum products), while non-oil trade exchange amounted to about $15.6 billion during 2023, achieving a growth of 6.1 percent compared to 2022.

The UAE is considered as the first trading partner to Japan in terms of exports and imports to the Gulf Cooperation Council countries, as the country receives 47 percent of Japan’s exports to the GCC countries.