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Tokyo, March 13: The ninth session of the Abu Dhabi-Japan Economic Council kicked off today in the Japanese capital, Tokyo, to discuss ways to enhance prospects for economic, trade and investment cooperation, and explore new economic opportunities of common interest.
The work of the ninth session of the Council focuses on the discussions of work teams and joint groups to enhance cooperation in the sectors of “energy, renewable energy, education, human resource development, industry, infrastructure, real estate, technology, finance, tourism and media.”
The work of the current session of the Abu Dhabi-Japan Economic Council is chaired by His Excellency Ahmed Jassim Al Zaabi, Chairman of the Department of Economic Development – Abu Dhabi, and His Excellency Sasaki Nobuhiko, President of the Japanese Cooperation Center for the Middle East, and members of the Japanese Cooperation Center for the Middle East, with the participation of more than 50 senior officials and executives from the public and private sectors from sides.
The work of the first day of the Council in its ninth session was attended by Satomi Ryuji, Deputy Minister of Economy, Trade and Industry of Japan, His Excellency Shihab Ahmed Al Fahim, UAE Ambassador to Japan, His Excellency Abdullah Al Mazrouei, Chairman of the Abu Dhabi Chamber of Commerce and Industry, His Excellency Sameh Al Qubaisi, Director General of Economic Affairs at the Department of Economic Development – Abu Dhabi, and His Excellency Alia Al Mazrouei, President Executive Director of the Khalifa Fund for Enterprise Development, Eng. Abdullah Al Shamsi, Acting Director General of the Abu Dhabi Investment Office, and a number of government officials and private sector representatives from both sides.
His Excellency Ahmed Jassim Al Zaabi said that the UAE and Japan have long-term historical and strategic relations dating back to the seventies under the leadership of the late Sheikh Zayed bin Sultan Al Nahyan, may God rest his soul. Since then, the two friendly countries have worked hard to develop strong frameworks in the most advanced sectors in the world. Including renewable energy, health care, artificial intelligence, trade, investment, and infrastructure development characterized by a common goal towards developing economic prosperity and stability.
His Excellency added that based on the successful common legacy and common vision, the Abu Dhabi-Japan Economic Council has achieved significant developments since its inception, and today we are proud to mobilize the next phase of accelerated growth by taking advantage of promising investment opportunities in emerging sectors.
His Excellency pointed out that Japan is one of the largest trading partners of Abu Dhabi. Last year, bilateral trade between the UAE and Japan increased by 58%, to reach $54.1 billion, compared to $34.1 billion in 2021.
He said that Japan is one of the largest investment partners of the UAE in both incoming and outgoing investments, as Japanese investments in the country exceeded $4 billion in 2021, representing 3% of total foreign direct investment inflows and more than 8% of investments from Asian countries.
His Excellency added that Japan has been at the forefront of hydrogen energy developers for many years and continues to lead through innovative new technologies and applications, and we are now keen to build and strengthen our existing partnerships and seize growth opportunities to achieve our national strategic goals towards net zero emissions by 2050.
His Excellency pointed out that the Council played a decisive role in attracting more than 340 Japanese companies and establishments to Abu Dhabi, creating new job opportunities and contributing to the economic growth of the emirate as a result of the growing confidence of the international community in living, investing and prospering in Abu Dhabi, in addition to the strategic geographical location of the country, which makes it a preferred destination and gateway to Africa, Middle East and Europe.
His Excellency added that Abu Dhabi launched many initiatives and incentive programs to facilitate trade and ensure ease of doing business by reducing costs and requirements, simplifying procedures and enabling smooth integration of government services.
His Excellency stated that the innovation program of the Abu Dhabi Investment Office provides incentives for innovative businesses in high growth areas, including health services, biopharmaceutical tourism, agricultural technology, information and communication technology, and even financial services.
His Excellency pointed out that today’s meeting constitutes an ideal platform to briefly address our industrial strategy in Abu Dhabi, which aims to help companies and manufactures on a larger and more competitive scale by actively promoting support and offering a set of value-added initiatives through six strategic programmes.
For his part, His Excellency Sasaki Nobuhiko said that the meeting comes at a time when Japan and the UAE are entering a new half-century of economic cooperation in various fields, especially in terms of climate change. geopolitical conditions in the world.
His Excellency pointed out that in 1962 Japan imported the first shipment of crude oil from Abu Dhabi, and since then crude oil has continued to be exported from Abu Dhabi and imported by Japan, which provided a solid foundation for the strong bilateral relationship today.
He added that the energy transition and the acceleration of economic diversification pose new challenges to the bilateral relations built on this basis, in which we can see new possibilities and opportunities for new bilateral cooperation.
For his part, His Excellency Shihab Ahmed Al Fahim said that since the first session of the Abu Dhabi-Japan Economic Council in February 2012, cooperation between our two countries has been developed and diversified to include sectors other than energy, which enhances trade, investments and business such as renewable energy sources, advanced technology, robotics, artificial intelligence, health care, manufacturing and space.
He added that the UAE and Japan have a common view on climate challenges and the matter is related to the energy challenge, and the Hiroshima summit of the Group of Seven will reaffirm the global commitment to sustainable development, while the eighth session will work
