UAE Business: UAE, Japan hold talks to boost business relations, investment – Gulf Digital News

UAE Business: UAE, Japan hold talks to boost business relations, investment – Gulf Digital News

UAE and Japan have discussed ways to boost business tie-ups between Japanese firms and their UAE counterparts, increase Japanese investments in the UAE, and promote the exchange of knowledge and technology.

The talks would consolidate UAE’s current trade relations with Japan. UAE is Japan’s largest Arab trading partner and accounts for 36% of its total trade with Arab countries. The non-oil trade between the two countries reached nearly AED47 billion ($12.8 billion) by the end of 2021 with more than 17.4% growth compared to 2020.

Japan is one of the UAE’s largest investment partners in both outbound and inbound investments, as Japanese investments in the country currently exceed AED15 billion, accounting for 3% of total FDI inflows, and more than 8.2% of investments from Asian countries. At the same time, the UAE is one of the most important Middle Eastern investors in Japan with investments valued at AED4.4 billion as of the end of 2020, representing 40% of total Middle East investment in Japan.

Dr Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, held a meeting with Kenji Ota, General Manager, Chairman of the Japanese Business Council (JBC) in Dubai; and a number of Council members.

Fruitful cooperation

During the meeting,