UAE and Japan Strengthen Economic Ties Through Ministerial Meetings and Agreements

Dr. Sultan Ahmed Al Jaber, the UAE Minister of Industry and Advanced Technology, is on an official visit to Japan from April 13 to 16, aimed at enhancing cooperation in trade, investment, energy, and advanced technology. His visit includes chairing the second ministerial meeting of the Comprehensive Strategic Partnership and engaging in bilateral discussions with Japanese officials and private sector representatives, attended by Shihab Ahmed Al Fahim, the UAE Ambassador to Japan.

UAE and Japan Strengthen Economic Ties Through Ministerial Meetings and Agreements
Credit: Economy Middle East

During the ministerial meeting, the two sides reviewed the progress of joint projects and initiatives while exploring further opportunities for economic collaboration. The discussions focused on key sectors, including trade, investment, energy, and industry, with working groups presenting their findings to promote mutual interests and sustainable growth.

The visit comes as the trade volume between the UAE and Japan reached approximately $49.6 billion in 2024, which includes oil-related products. Notably, non-oil trade was around $17.5 billion, reflecting a slight growth of 1.2 percent compared to 2023. The UAE continues to be Japan’s top trading partner within the GCC, accounting for 52 percent of Japan’s exports to the region, while Japan ranks as the UAE’s ninth largest global trading partner.

During his trip, ADNOC announced a significant 15-year sales and purchase agreement with Mitsui & Co. for the supply of up to 0.6 million tons per annum of LNG from its lower-carbon Ruwais LNG project. This agreement highlights the commitment of both nations to energy security and reinforces their partnership in cleaner fuel sources.

Additionally, discussions included the introduction of low-carbon ammonia produced by Fertiglobe and supplied by ADNOC, which will be used to generate clean electricity in Japan. This ammonia is certified as low-carbon due to carbon capture and storage technologies employed in Abu Dhabi.

Earlier this year, Al Jaber and Japan’s Minister of Economy, Trade and Industry also explored avenues to advance cooperation in the space industry. This collaboration will be formalized under a Memorandum of Cooperation (MoC) with the UAE Space Agency and aims to enhance the development of the space sector in both nations.

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Overall, this visit and the resulting agreements signify a robust commitment between the UAE and Japan to deepen their economic ties and explore new collaborative opportunities across various sectors, aiming for continued mutual growth and innovation.

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