Page 625 - MOE ENGLISH PR REPORT - JULY 2024

7/10/24, 5:04 PM UAE and Japan discuss the latest developments in the comprehensive strategic partnership
ensure its security and sustainability. The MoC will support the growth of the Japanese economy by
providing a strategic reserve that helps mitigate energy price shocks amid market and supply chain
fluctuations.

During his meeting with Her Excellency Kamikawa Yoko, Minister of Foreign Affairs, His Excellency 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.

His Excellency Dr. Sultan Al Jaber also met with His Excellency Ken Saito, Japanese Minister of

Economy, Trade, and Industry. The meeting reviewed the various aspects of economic cooperation
between the two countries and ways to enhance them to serve mutual interests. Additionally, they
explored ways to strengthen trade, investment, energy, renewable energy, industry, advanced
technology, and other fields of mutual interest.

His Excellency Dr. Sultan Al Jaber held a meeting with His Excellency 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.

UAE Delegation:

The UAE delegation included His Excellency Dr. Thani Ahmed Al Zeyoudi, Minister of State for Foreign
Trade; His Excellency Saeed Mubarak Al Hajeri, Assistant Foreign Minister for Economic and Trade
Affairs; Musabbeh Al Kaabi, Executive Director of Low Carbon Solutions and International Growth at
ADNOC; Mohamed Al Ramahi, CEO of Abu Dhabi Future Energy Company “Masdar”; and Thomas

Pramotedham, CEO of Presight.

Bilateral cooperation and trade exchange:

The UAE is a reliable source for supplying Japan with energy sources and is considered a strategic
partner in various fields. The UAE is the largest supplier of oil to Japan, as its oil exports during the
month of April amounted to about 35.8 million barrels (representing more than 45% of Japan’s imports

during the same month). Oil exports in 2023 represented 44.7% of Japan's total oil imports. On the other
hand, the UAE exported the world's first certified shipment of low-carbon ammonia to Japan, which was
produced using "carbon capture and storage" technology through cooperation between Vertiglobe and
Japan's Mitsui. This shipment comes as part of ADNOC's efforts to accelerate the development of global

value chains for low-carbon hydrogen and ammonia.

Mubadala Investment Company also announced its first renewable energy projects in Japan, through
PAG’s platform (“PAG REN I”), which mainly specializes in providing solar energy to companies. The

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