UAE and Japan strengthen strategic partnership, sign memoranda of understanding

To strengthen economic cooperation and promote sustainable development, Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology of the United Arab Emirates, recently held a high-level meeting with Japanese Prime Minister Fumio Kishida.

The visit marked a significant step in the enduring ties between the United Arab Emirates and Japan, underscoring mutual aspirations for sustainable economic growth and technological innovation, the state news agency reported. YOUgiven.

The UAE delegation included Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Shihab Al Fahim, UAE Ambassador to Japan.

During the discussion, Dr Al Jaber conveyed greetings from the President of the United Arab Emirates, Sheikh Mohamed bin Zayed Al Nahyan, and expressed wishes for Japan’s continued progress and prosperity.

Both sides reviewed the Comprehensive Strategic Partnership Initiative, focusing on joint projects and programmes aimed at sustainable economic growth and strengthening cooperation.

The visit is part of ongoing efforts to strengthen relations between the two nations. Dr. Al Jaber also spoke with key Japanese officials, including Kamikawa Yoko, Minister of Foreign Affairs; Ken Saito, Minister of Economy, Trade and Industry; Taro Kono, Minister of Digital Transformation; and Yoshimasa Hayashi, Secretary to the Cabinet.

Meetings with CEOs of leading Japanese corporations, including Japan Bank for International Cooperation (JBIC), Mitsui, Inpex, Jira, Itochu, Hitachi and SoftBank Group, underscored the UAE’s commitment to promoting economic and social development.

Discussions focused on securing energy supplies, using artificial intelligence to improve energy sector efficiency and supporting low-emission economic growth.

The discussions focused on clean energy projects.

Dr Al Jaber highlighted the UAE’s rapid adoption of clean energy projects and called for increased investment to meet global energy demand.

Dr. Thani Al Zeyoudi emphasized Japan’s status as a key trading partner, and bilateral relations have seen significant growth. Japan ranks ninth among the UAE’s largest trading partners in the world and fifth within the Gulf Cooperation Council, while the UAE is Japan’s largest trading partner in the GCC.

A key outcome of the visit was the signing of a memorandum of understanding between ADNOC and JBIC for a $3 billion green financing agreement. This agreement supports ADNOC’s efforts to reduce emissions and adopt low-carbon solutions.

Read: ADNOC and JBIC sign $3 billion green finance agreement

Another Memorandum of Cooperation was signed with the Agency for Natural Resources and Energy to enhance energy security and sustainable development.

Dr. Al Jaber’s meeting with Foreign Minister Kamikawa Yoko commended the development of UAE-Japan relations under the Strategic Partnership Framework. Economic cooperation was further explored with Ken Saito, focusing on trade, investment, energy, renewable energy and advanced technology. The meeting with Taro Kono focused on cooperation in digital transformation and artificial intelligence.

The UAE delegation, attended by Dr Thani Al Zeyoudi and other high-ranking officials, highlighted the UAE’s role as a reliable energy supplier and strategic partner, YOU reported.

In April, the UAE supplied Japan with 35.8 million barrels of crude oil, accounting for more than 45 percent of Japan’s imports.

The UAE also sent the world’s first certified shipment of low-emission ammonia to Japan.

Mubadala Investment Company announced its first renewable energy projects in Japan through its PAG platform, which aims to expand solar energy services in the Asia-Pacific region with a focus on Japan.

UAE-Japan Trade

In 2023, the UAE accounted for 60% of foreign direct investment flows to Japan from the Middle East and attracted 82% of total Japanese investment in the region.

Total trade between the two countries reached $47.4 billion, with non-oil trade reaching $15.6 billion, up 6.1% year-on-year.

The UAE remains Japan’s largest trading partner in the Gulf Cooperation Council.