UAE, Japan aim to strengthen bilateral ties for economic co-operation.

Dr. Sultan bin Ahmad Sultan Al Jaber, Minister of State and CEO of the ADNOC Group, met Japanese Prime Minister Shinzo Abe on Thursday to discuss the strategic relationship between the two countries and explore ways to enhance political, social, economic and trade relations.

At the meeting, Dr. Al Jaber extended the UAE leadership’s greetings to Prime Minister Abe and the people of Japan. The two sides also discussed shared views on extremism and terrorism.

“The UAE pursues a foreign policy dedicated to promoting tolerance stability, prosperity and peaceful co-existence within the region and the wider world,” Dr. Al Jaber said.

Commenting on the strong bilateral links between the UAE and Japan, Dr. Al Jaber said the UAE delegation’s visit to Tokyo reflects the importance it places on its relationship with Japan.

He also briefed Abe on the UAE’s economic diversification plans and the existing investment opportunities, which would support the enhancement of ties between the two countries. These include possibilities across the energy sector, particularly in the exploration and development of oil and gas reserves as well as refining, petrochemicals and renewable energy.

“Our deep-rooted and long-standing relationship with Japan dates back to the establishment of the UAE. Today, we enjoy a multi-faceted, bilateral relationship, centered around strong ties, across key economic sectors.

“As the UAE’s economy expands, we are creating a tremendous partnership and co-investment opportunities in the energy, shipping, logistics, infrastructure, technology, aerospace, banking and financial services sectors. These opportunities will enable both the UAE and Japan to benefit from mutually beneficial and sustainable returns,” he added.

Dr. Al Jaber also shared ADNOC’s recently announced partnership and co-investment approach, which introduces opportunities across new areas of the company’s value chain. This strategic approach aims to capitalize on the key trends in the oil and gas industry and will enable ADNOC to unlock and maximize significant value from its upstream and downstream businesses, drive revenue growth, optimize performance, and secure greater access for its products in key growth markets.

Dr. Al Jaber also had discussions, on Thursday, with Japan’s Minister of Foreign Affairs Fumio Kishida and Minister of Economy, Trade and Industry Hiroshige Seko.

In 2016, bilateral trade between the UAE and Japan stood at US$25 billion (AED91.8 billion), representing 32 percent of Tokyo’s trade with Middle Eastern countries. The UAE is the second-largest crude oil exporter to Japan, accounting for 22 percent of the country’s total crude oil imports.

Source: UAE Ministry of Foreign Affairs