ABU DHABI, A business meeting organised by the Abu Dhabi Chamber of Commerce, and Industry, ADCCI, at its headquarters with a trade delegation representing 12 Japanese companies revealed the presence of 340 Japanese companies and 11,000 Japanese brands registered in the UAE.
During the meeting, which aimed to brief the Japanese companies about investment opportunities in Abu Dhabi's business sector, Helal Mohammed Al Hamli, Deputy Director-General of the Chamber, stressed, in his welcoming speech, that the economic relations between the UAE and Japan are ''strong and are constantly advancing towards prosperity.'' Japan is one of the UAE's key global trading partners, with their total non-oil foreign trade in 2018 being valued at some US$14.77 billion. Japanese investments and advanced technologies also play a key role in supporting the UAE's development process. There are more than 88 Japanese companies registered at the Ministry of Economy, along with 209 agencies and over 11,000 registered brands while the number of valid memberships registered at the chamber is about 44 companies.
Masami Ando, Managing Director of the Japan External Trade Organisation, JETRO, which is based in the UAE, thanked the chamber for organising a business meeting between several Japanese and Emirati companies.
He said that the relations between the UAE and Japan have recently witnessed many high-level bilateral visits, which have helped consolidate their economic ties, especially through the signing of a Memorandum of Understanding between their ministries that aim to expand their mutual trade and attract investments from Japanese small and medium-sized enterprises, SME, to the UAE.
There are currently over 340 Japanese companies operating in the UAE and more than 4,000 Japanese work and reside in the country, he added, noting that Japanese exports to the UAE in 2018 grew by six percent, reaching $8 billion while Emirati imports to Japan reached a value of $27.5 billion, an increase of 33 percent compared to 2017.
Source: Emirates News Agency