Page 653 - MOE ENGLISH PR REPORT - JULY 2024

7/10/24, 5:07 PM UAE, Japan discuss comprehensive strategic partnership developments - TAG91.1 - PINOY TALAGA!
Dr. Sultan Al Jaber also met with Kamikawa Yoko, Japanese Minister of Foreign Affairs, Ken Saito, Minister of
Economy, Trade, and Industry, Taro Kono, Minister for Digital Transformation, and Yoshimasa Hayashi, Chief Cabinet
Secretary of Japan as well as Chief Executive Officers of Japan Bank for International Cooperation (JBIC), Ineos,

Mitsui & Co., Inpex, Jira, Itochu, Hitachi, and SoftBank Group.

He discussed the importance of securing energy supplies to benefit from artificial intelligence tools and solutions in
order to improve the performance of the energy sector and raise its efficiency, in addition to stimulating and
encouraging innovation, which helps to explore, develop and apply more solutions to stimulate low emission

economic growth, and supporting the achievement of the goals of the “UAE Consensus” reached during the
Conference of Parties “COP28”.

He highlighted as well that the UAE adopted from an early stage the development and implementation of clean
energy projects locally, regionally and globally, and called for attracting more investments in the energy sector to
meet the growing global demand for it.

The UAE is a source of about 60 per cent of foreign direct investment flows to Japan from the Middle East during the
year 2023, while the UAE attracted about 82 per cent of the total Japanese investments in the Middle East countries
during the same year (an increase of 71 per cent from the year 2022), mainly covering diverse sectors such as
technology, renewable energy and transportation.

The total trade exchange between the two countries in 2023 amounted to about $47.4 billion (including petroleum
products), while non-oil trade exchange amounted to about $15.6 billion during 2023, achieving a growth of 6.1 per
cent compared to 2022.

The UAE is considered as the first trading partner to Japan in terms of exports and imports to the Gulf Cooperation
Council countries, as the country receives 47 per cent of Japan’s exports to the GCC countries.

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