September 28th, 2022 saw Japan and the United Arab Emirates signed the Comprehensive Strategic Partnership Initiative and the close ties between the two continue to grow.
The UAE-Japan Business forum in Abu Dhabi in July 2023 was a success with business delegates from both the UAE and Japan attending it. The UAE and Japan signed 23 agreements and memoranda of understanding (MoUs) during the UAE-Japan Business Forum. The signings took place in the presence of H.H. Sheikh Hamed bin Zayed Al Nahyan, Member of Abu Dhabi Executive Council, and Japanese Prime Minister Fumio Kishida. These MOUs are poised to reinforce and deepen the bilateral relations between the two nations, with particular focus on five key sectors: energy, space, health, circular economy and technology.
JETRO Dubai and Middle East and North Africa (MENA)
Since 1981, JETRO Dubai and Middle East and North Africa (MENA) has strengthened the economic and business relationships between Japan, the United Arab of Emirates and other Gulf countries.
JETRO Dubai serves as a gateway for mutual business for both local and foreign companies and supports economic relationships between Japan and the Gulf states.
As part of JETRO overseas office network, JETRO Dubai works in coordination with JETRO headquarters in Japan. JETRO Dubai serves as the central office for the Middle East and North Africa region, covering Kuwait, Bahrain, Qatar, UAE, Oman, Yemen and Iraq.
JETRO Dubai’s services and facilities actively encourage and promote Japan as an import source or export market for companies exploring investment opportunities and looking to expand their business in Japan.
“This is my first assignment in the Middle East region and I am very much looking forward to a productive stint in the UAE and contribute to further promoting and strengthening the bilateral relationship between the UAE and Japan,” says Nakajima.
“The UAE has one of the most open and innovative economies in the world, and we recognize that the UAE is a dependable and significant economic partner for Japan on the global stage.”
Bilateral Trade Facts
In 2022, trade between the UAE and Japan rose by 57.5 percent to exceed Dh200 billion ($54.4 billion), from Dh127 billion in the previous year. Today, Japan is one of the UAE’s largest and most important energy and trading partners.
The major components of bilateral trade are mineral fuels, transport equipment, general machinery, electric and electronic equipment, communication equipment, metals, textiles and foodstuff.
The bulk of Japan’s imports from the UAE are mineral fuels such as oil and gas, and metals, including aluminum.
Evolving Economic Enterprise
Cooperation between Japan and the UAE has evolved to include infrastructure, renewable energy, outer space, agriculture and food, medical and health care, retail business, tourism, content and creative industries, and much more.
“The synergy between the UAE and Japan in the energy sector is increasingly vital today in securing technologies that will help the UAE achieve its ambition goal of realizing carbon neutrality by 2050,” says Nakajima.
4,300 Japanese expats living in the UAE and about 350 Japanese companies operate in the UAE.
The official signing ceremony of joint declaration on the implementation of Comprehensive Strategic Partnership Initiative took place on September 28th, 2022 and is another milestone on the economic and diplomatic front.
Expo 2020 Dubai to Expo 2025 Osaka Kansai
Japan is preparing to host the next World Expo. At the closing ceremony of Expo 2020 Dubai, the UAE returned the Bureau International des Expositions flag to BIE, which was then handed over to Japan’s delegation for the Expo 2025 Osaka, Kansai, as the next country to host the next edition of the World Expo.
Japan External Trade Organization (JETRO) Dubai
35th Floor, #3503 – #3506, The One Tower
Barsha Heights, Tecom, Dubai, UAE P.O.BOX: 2272