Page 632 - MOE ENGLISH PR REPORT - JULY 2024

7/10/24, 5:05 PM UAE and Japan sign agreements to enhance bilateral trade and boost partnerships
He also highlighted the importance of securing energy supplies and leveraging artificial

intelligence tools and solutions to improve the performance and efficiency of the energy

sector.

UAE-Japan bilateral trade has boomed in the past few years.

The total trade exchange between the two countries amounted to about $47.4 billion

(including petroleum products) in 2023. The non-oil trade exchange stood at nearly $15.6

billion last year, achieving a growth of 6.1 per cent compared to 2022, according to

official figures.

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The UAE is the top trading partner of Japan in the GCC countries, as the country receives

47 per cent of Japan’s total exports to the region.

The UAE contributed about 60 per cent of foreign direct investment flows to Japan from
the Middle East last year. It attracted nearly 82 per cent of the total Japanese investments

in the Middle East during the 12-month period, an annual increase of almost 71 per cent,
covering diverse sectors such as technology, renewable energy and transportation.

Dr Thani Al Zeyoudi, UAE’s Minister of State for Foreign Trade, said that Japan is one of

the most important trading partners of the UAE around the world. The island country is

the ninth largest trading partner of the UAE globally, while the Emirates is the largest

trading partner of Japan among the GCC countries.

Dr Al Zeyoudi pointed out that the UAE delegation visit aimed to strengthen bilateral

relations, accelerate growth in sectors of common interest, enhance trade exchange and

explore new investment opportunities.

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