Renewables, tech drive UAE-Japan non-oil trade to $131bn in 10 years
UAE’s investment environment has attracted 88 companies, 207 commercial agencies, and 9,792 Japanese brands
Non-oil trade between the UAE and Japan reached $131bn (AED481.34bn) over the past ten years from 2009 to 2019, according to statistics released by the UAE’s Ministry of Economy.
Japan’s investments in the UAE have been focused on the technology, renewable energy, transportation, healthcare, as well as the wholesale and retail trade sectors, with overall trade between the two nations reaching $7bn (AED26bn) in H1 2019.
Meanwhile, the UAE is among the top five oil exporters to Japan, and its non-oil exports include copper and aluminium.
In addition, the UAE’s investment environment has attracted more than 10,000 Japanese companies, agencies, and brands, including 88 companies, 207 registered commercial agencies, and 9,792 registered Japanese brands.
Mutual visits by the heads of state of the two nations have led to 24 agreements and memorandums of understanding (MoUs) being signed, according to the state-run news agency, Wam.
Official ministry records and the Federal Competitiveness and Statistics Authority (FCSA) state that Japan’s non-oil trade reached AED54.46 billion in 2018.