Abu Dhabi-Japan Economic Council holds 4th session

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Abu Dhabi-Japan Economic Council holds 4th session

Abu Dhabi-Japan Economic Council holds 4th session

(Abu Dhabi) – The 4th session of Abu Dhabi-Japan Economic Council kicked off under the co-chairmanship of Yosuke Takagi, the Japanese State Minister of Economy, Trade and Industry, and Ali Majid Al Mansouri, Chairman of the Department of Economic Development (ADDED).
The session will be attended by a big Japanese delegation including senior officials, investors and businessmen, along with senior officials from Abu Dhabi government and businessmen.
Al Mansouri opened the 4th session with a keynote speech in which he highlighted the improvements witnessed in the business environment and the economic climate of the Emirate of Abu Dhabi, which would consolidate the various aspects of cooperation between Abu Dhabi and Japan, especially in the presence of this high calibre elite of business community representatives and senior government officials from both countries.
“The UAE and Japan have enjoyed well established historical relationships bolstered by continuous communication between the governments of the two friendly countries while the distinguished presence of the Japanese business community in the UAE helps further develop mutual relations in all areas,” he added.
He noted that Japan is considered now a real strategic UAE ally and partner, and we look forward to further develop this strategic partnership between us in several vital sectors targeted by the two countries.
In his speech, Al Mansouri pointed out that the economic cooperation between the UAE and Japan has seen accelerated growth in recent years as the UAE has maintained its position as the second oil exporter to Japan, with a share that amounted to 25.3% of Japan’s total crude imports in 2015.
“Though partnership in the field of energy is an important aspect of the relations between the two countries, the depth of these relations goes far beyond energy issues alone. The UAE is the largest market for the Japanese exports within the GCC countries as Japanese exports totalled USD 9 billion in 2015, which is 37.7% of the total Japanese exports to the GCC countries,” Al Mansouri said.
He pointed out that though Japanese imports from the UAE dropped by 44% in 2015 to reach about USD 24 billion, the UAE’s share in the Japanese imports from the GCC countries exceeded 32% in 2015, compared to 30% by the end of 2014. However, the ties between the two countries are not limited to oil and trade only but rather cover all other fields including investment, education, culture, cooperation in the space, to name but a few.
The ADDED chairman stressed in his keynote speech that the 4th session of Abu Dhabi-Japan Economic Council “presents a unique opportunity today to learn from each other and benefit from the successes of each party to enhance our mutual ties.”
(Courtesy WAM)