Trade volumes between the UAE and Japan reached $25bn last year, representing 32% of Japans entire trade with Middle Eastern countries, business leaders said at a key meeting in Sharjah, UAE.
The roundtable was hosted by Invest in Sharjah (IIS) in collaboration with Japan External Trade Organisation (Jetro) to explore new commercial avenues at the Mleiha Archaeological Centre, a flagship project of the Sharjah Investment and Development Authority (Shurooq), reported Emirates news agency Wam.
Building on the success of the first Sharjah-Japan Business Roundtable, which was held in April 2014, this second roundtable served as a key networking platform, which brought the two parties together to shed light on the progressive business developments and investment achievements between Sharjah and Japan.
Marwan bin Jassim Al Sarkal, CEO of Shurooq, said, “Japan is a key trading partner of the UAE and accounts for a significant share of bilateral trade over the years. The ties between Japan and the UAE in general and Sharjah, in particular, have seen tremendous vertical and horizontal growth over recent years. As Sharjah continues to increase its focus on worldwide investors, Japan will undoubtedly become even more involved in our drive towards an innovative economy.”
Emphasising the importance of having a regional base in the UAE, Masami Ando, managing director at JETRO MENA, said: “In January 2017, the UAEs and Japans ministers of economy signed an MoU to boost Japanese businesses to set up in the UAE. Following this agreement, JETRO Dubai has opened a small and medium-sized enterprise (SME) platform to provide specialised advisory support to Japanese SMEs.
“There are over 300 Japanese companies operating in the UAE, with most of them concentrated in the emirates of Abu Dhabi and Dubai. Our recent strategy has been to expand our reach into the northern emirates, and we believe that this roundtable is a fantastic opportunity for Japanese companies to better understand the business environment here in Sharjah and explore new investment opportunities.”
This was followed by valuable insights from Akima Umezawa, Consul General of Japan in Dubai, who highlighted the leading role Sharjah has been playing in enabling different businesses, especially SMEs, to grow in the UAE. He said: “Sharjah is special in the UAE as it commits itself fully to multiculturalism a great quality that enables foreign investments to swiftly run their businesses.”
In his opening remarks, Khalid bin Butti Al Hajri, director-general, Sharjah Chamber of Commerce and Industry (SCCI) said: “In recent years, Sharjah and Japan have witnessed a rapidly growing and mutually beneficial trade relationship in a wide array of sectors from technology to manufacturing and finance.
“The SCCI is keen to contribute increasingly to growing this relationship. The visa on arrival for Emirati nationals to Japan is one of the many examples of the growing trust and goodwill between the two countries. We are here to offer business incentives, country-specific consultation and keen insights to Japanese businesses willing to expand their businesses in the Arab region with Sharjah as their base.”