UAE, Japan strengthen ties with MoUs, agreements.
The UAE President, His Highness Sheikh Mohamed bin Zayed Al Nahyan, and Japanese Prime Minister Fumio Kishida, during the latter's inaugural state visit to the UAE, significantly enhanced bilateral relations through the exchange of multiple memoranda of understanding (MoUs) and agreements.
Strengthening Bilateral Relations: UAE and Japan Elevate Cooperation to New Heights
Expanding on the enduring ties spanning half a century and the UAE-Japan Comprehensive Strategic Partnership established last year, the new agreements encompassed various domains, including energy, space, startups, education, and climate action, among others , Acknowledging the profound and historic bond between the two nations, Sheikh Mohamed emphasized the exploration of avenues to reinforce the Comprehensive Strategic Partnership and contribute to sustainable global growth and stability , Kishida emphasized that the meeting with Sheikh Mohamed centered on propelling bilateral cooperation to unprecedented heights over the next five decades. He expressed the intention to broaden collaboration in areas such as clean energy, green materials, semiconductors, batteries, space technology, advanced technologies, startups, medical and healthcare, education, and cultural exchange.
UAE-Japan: Extensive Agreements, Joint Declarations, and Enhanced Connectivity
Furthermore, a plethora of agreements and MoUs—up to 23 in number—were signed at the UAE-Japan Business Forum, involving government entities and corporations, while a few deals were sealed at Abu Dhabi's Qasr Al Watan in the presence of the two leaders , These pacts covered diverse sectors, ranging from agriculture and fisheries to tourism, education, and space activities for peaceful purposes. Additionally, a joint declaration of intent was made for establishing an Energy Security and Industry Accelerator (ESIA), and a Japan-UAE Leaders' joint statement emphasized their commitment to climate action , To enhance travel and connectivity, Kishida highlighted the measures taken to streamline visa procedures for Japan and the increased services announced by Etihad Airways for Osaka, foreseeing a boost in air traffic between the two countries.
Advancing towards a Decarbonized Society: UAE and Japan Strengthen Collaboration
Both countries have committed to working towards the realization of a decarbonized society, reinforcing their collaboration and advancing their strategic partnership. The Japanese Prime Minister expressed hope that Japan and the UAE would intensify their cooperation and embark on a joint global green journey that encompasses the Indo-Pacific and extends worldwide. Kishida also pledged active support from the Japanese government in promoting investments between the two nations, facilitating economic diversification and industrial development for the next half-century , The agreements and MoUs signed involved prominent entities such as Adnoc, Masdar, Department of Economic Development, Emirates Global Aluminium, KEZAD Group, Abu Dhabi Exports Office, M42, PureHealth, Rebound, AD Ports Group, Emirates Steel Arkan, Sharjah National Oil Corporation, UAE Chambers, and the Mohammed Bin Rashid Space Centre, among others. These collaborations encompassed critical sectors, including sustainability, space science, technology, the environment, renewable energy, transportation, healthcare, infrastructure, and industry.
A Pioneering Example of Strategic Cooperation: UAE and Japan's Strong Bilateral Ties
Over the past 50 years, the UAE and Japan have established a pioneering example of strategic cooperation, evident in their impressive trade figures. In 2022, the total trade exchange between the two countries reached $51.7 billion, with non-oil trade amounting to $14.7 billion. Non-oil imports to the UAE accounted for $12 billion, reflecting the significance of the bilateral trade relationship. Apart from 2020, which was affected by the pandemic, the average non-oil trade between the UAE and Japan over the past decade stood at $14 billion annually , These remarkable figures have solidified the UAE's position as Japan's seventh-largest trading partner globally and Japan's status as the UAE's eighth-largest trading partner. Notably, the UAE ranks first among Japan's trade partners in terms of exports and imports within the Arab world, accounting for 40% of Japan's exports to the region and 39% of Japan's imports from the region.
UAE-Japan Bilateral Relations: Robust FDI, Tourism, and Air Connectivity
Furthermore, the UAE has emerged as a vital source of foreign direct investment (FDI) for Japan in the Middle East and North Africa (MENA) region, with 42% of FDI inflows originating from the UAE. Japanese investments in the UAE market are valued at approximately $14 billion, with around 10,000 Japanese companies or agencies operating across various sectors such as technology, renewable energy, transportation, and healthcare , The continuous growth in tourism exchanges between the UAE and Japan is yet another testament to their strong bilateral ties. With nearly 90 flights per month operated by the UAE's national carriers, the air traffic between the two countries has flourished. In 2022, the number of Japanese visitors to the UAE reached approximately 56,000, reflecting the increasing tourism movement and air connectivity between the two nations.