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It will also look to generate more value from joint investments, and encourage communication between relevant government authorities
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The sides also discussed their bilateral ties and ways of enhancing their economic cooperation
The United Arab Emirates and Japan have decided to put together a joint business council, reports from the UAE on Wednesday, June 2.
The aim of the council will be to improve the partnership between the business communities of both countries, so there may be more opportunities for companies in both nations.
The council will also look to generate added value from joint investments, provide information and services for investors, and encourage communication between relevant government authorities, added the reports.
The decision came in a meeting between the UAE’s Minister of State for Foreign Trade Dr Thani bin Ahmed Al Zeyoudi and Japan’s Minister of Economy, Trade and IndustryHiroshi Kajiyama.
They also talked about ways of boosting their mutual trade and investments and facilitating the movement of imports and exports between their countries, said the reports.
The sides also discussed their bilateral ties and ways of enhancing their economic cooperation, stressing the importance of growing the scope of joint projects and facilitating the exchange of talents and expertise between their countries.
Al Zeyoudi said the partnership between the UAE and Japan is reflected by positive economic indexes, with the value of Japanese direct investments in the UAE since the start of 2020 totaling $4.01 billion, a growth of 22.6 percent from 2015 until 2020.
Japan is ranked 10th globally in the list of countries investing in the UAE, and eighth globally in terms of non-oil trade, which reached $8.95 billion in the first 10 months of 2020, he added.
“We will continue advancing our bilateral cooperation in target areas and sectors that support the economy of the future, especially technology, electronics, advanced industries, medical research, space sciences, automation, artificial intelligence and entrepreneurship. The UAE-Japanese business council will play a key role in this regard,” he said.