Al Zeyoudi briefs Japanese companies on the country's new economic model

Non-oil trade between the UAE and Japan recorded 47 billion dirhams in 2021

Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, said that the UAE and Japan have common visions for the future, and focus on investing in knowledge, innovation, technology and new economic sectors.

Trade and Investment

During a meeting with the Chairman of the Japanese Business Council in Dubai, Kenji Ota, and a number of representatives of Japanese companies that are members of the Council, he stressed that the UAE and Japan have made great strides in developing their economic partnership to reach the strategic level we are witnessing today, pointing out that Japan is the eighth partner in the list. The UAE is the largest trading partner in the world, and ranked fourth among non-Arab Asian countries. On the other hand, the UAE is Japan's largest Arab trading partner, accounting for 36% of its total trade with Arab countries.

He revealed that non-oil intra-regional trade between the two countries recorded about 47 billion dirhams at the end of 2021, with a growth of more than 17.4% compared to 2020.

future directions

Al Zeyoudi continued, "We are keen to consolidate the position of the UAE, a major destination for Japanese trade destined for the region and the vital gateway for its transit to the Middle East and African markets. We will work with the Japanese business community to achieve this common vision, and we will continue to work to develop partnerships in important sectors for both countries as future economic directions, Such as artificial intelligence, applications of the fourth industrial revolution, information and communication technology, smart transportation, aerospace, renewable energy, health care and tourism.

new model

Al Zeyoudi presented an overview of the new economic model adopted by the UAE for the next fifty years, which is based on flexibility, sustainability, high productivity, and the expansion of strategic partnership with global markets of strategic importance.

He stressed that the Japanese business community is invited to be a major partner in this economic process and to benefit from the various opportunities offered by the business environment in the UAE.

mutual investments

Japan is one of the largest investment partners of the UAE, whether in investments issued by the country or coming to it, as the value of Japanese investments in the country exceeds 15 billion dirhams, representing 3% of the total incoming foreign direct investments, and more than 8.2% of incoming investments from Asian countries.

On the other hand, the UAE is among the most important Middle Eastern countries investing in Japan, as the total Emirati investments in it amounted to 4.4 billion dirhams until the end of 2020, representing 40% of the total Middle Eastern investments in Japan.

Japanese Business Council

It is noteworthy that the Japanese Business Council is one of the 41 most prominent foreign business councils registered with the Dubai Chamber of Commerce and Industry.

The council was established in 2009 with the membership of 32 Japanese companies operating in the country with the aim of supporting the Japanese business community in accessing trade and investment opportunities in the UAE and the region, and its membership has expanded to include today more than 165 companies operating and investing in a wide range of vital sectors in the UAE, most notably: transportation and storage, energy and renewable energy, mining, water solutions, technology and communications, manufacturing, education, and real estate.

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