Abu Dhabi and Japan Strengthen Economic Ties Amidst 11.9% Trade Growth

In a significant move to bolster economic relations, Abu Dhabi and Japan have signed a Memorandum of Understanding (MoU) following a notable 11.9% increase in bilateral trade. This agreement aims to deepen cooperation across various sectors, including energy, technology, and infrastructure.

The MoU was formalized during the 9th session of the Abu Dhabi-Japan Economic Council (ADJEC) held in Tokyo. Co-chaired by His Excellency Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED), and Kodaira Nobuyori, President of the Japan Cooperation Centre for the Middle East (JCCME), the session brought together senior officials and executives from both nations.

Highlighting the robust trade relationship, Al Zaabi stated,

“Over the past years, the cooperation between Abu Dhabi and Japan has diversified further to include various sectors and enhance mutual trade and investments. Japan is among Abu Dhabi’s top five trading partners, and flows of investments from both sides are on the rise.”

The MoU focuses on enhancing collaboration in energy, infrastructure, and technology. Notably, the agreement includes provisions for joint ventures in renewable energy projects, aligning with both nations' commitments to sustainable development.

Shihab Ahmed Al Faheem, UAE Ambassador to Japan, emphasized the strategic nature of the partnership:

“Our countries have shared views on many vital issues, and the cooperation between the two nations is expanding rapidly. The UAE is now Japan’s largest supplier of crude oil, and our economic relations cover various sectors including trade, investments, and business such as renewables, advanced technology, and robotics.”

The agreement also paves the way for increased investment opportunities. The Abu Dhabi Investment Office (ADIO) presented new initiatives aimed at attracting Japanese investors, particularly in the industrial and financial sectors. These initiatives are part of Abu Dhabi's broader strategy to diversify its economy and foster innovation.

Furthermore, the Abu Dhabi Residents Office (ADRO) and the Japan External Trade Organization (JETRO) signed a separate agreement to attract specialized talent and investment opportunities to the emirate. This collaboration aims to support sustainable development and further establish a knowledge-based economy in Abu Dhabi.