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Japan, UAE sign new MoUs to boost investments

Non-oil trade between the two countries is nearly Dh53.5b

Gulf News

Abu Dhabi: Three new Memorandum of Understandings (MoU) were signed between Japan and the UAE to promote investments and provide support for small and medium enterprises, according to a statement from the Ministry of Economy on Sunday.

The agreements were signed during the recently concluded UAE-Japan Business Forum in Tokyo. The UAE economy minister Sultan Bin Saeed Al Mansouri, and Japanese State Minister of Economy, Trade and Industry Kosaburo Nishime, among others took part in the event.

The volume of non-oil trade exchange between the two countries touched nearly Dh53.5 billion and Japan’s investments in the UAE amount to Dh14.3 billion in various sectors including advanced technologies, renewable energy, transportation, aviation and health care.

There are more than 100 Japanese companies in the UAE, 200 Japanese agencies as well as more than 10,000 registered trademarks.