Page 684 - MOE ENGLISH PR REPORT - JULY 2024

Bilateral relations are witnessing remarkable development in light of the joint will
of the leadership of the two friendly countries to advance these relations to new
heights of mutual economic growth, in a way that serves common interests, by
encouraging more cooperation in a number of fields, including economy, trade
and investment.

He said that Japan is also a pivotal knowledge partner for the UAE in the areas
of economic diversification and sectors of the future economy based on
knowledge and innovation, given its rich history in these fields.

Dr. Al Zeyoudi pointed out that the visit of the UAE delegation to Japan aimed to
strengthen bilateral relations and conclude more partnerships and agreements to
accelerate and stimulate growth in sectors of common interest, in a way that
supports enhancing trade exchange and exploring more new investment
opportunities for business sectors and companies.

The visit witnessed the signing and announcement of new strategic and vital
partnerships between the two countries. A memorandum of Understanding was
signed between ADNOC and the Japan Bank for International Cooperation

(JBIC) for green financing worth $3 billion. This agreement will support ADNOC’s
pioneering efforts in reducing emissions and adopting low-carbon solutions in its
operations.

A Memorandum of Cooperation was also signed regarding strategic reserves
between ADNOC and the Natural Resources and Energy Agency (affiliated with
the Japanese Ministry of Economy, Trade and Industry - METI) aimed at
enhancing cooperation between the two countries in the field of energy and
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 Kamikawa Yoko, Minister of Foreign Affairs, 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.

Dr. Sultan Al Jaber also met with 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.

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