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The UAE and Japan have agreed to establish a joint business council to boost cooperation.
The Federation of Emirates Chambers of Commerce and Industry (FCCI) and the Dubai-based Japan External Trade Organization (JETRO Dubai) have agreed to establish a UAE-Japan Business Council to facilitate mutual visits between the business communities of the two countries. The parties agreed to sign a memorandum of understanding to establish the proposed council by the first quarter of 2023.
#UAE, #Japan Signing of a memorandum of understanding on the establishment of a joint business committee.#WamNews https://t.co/cflC70vGnI
— WAM English (@WAMNEWS_ENG) December 4, 2022
The committee was formed to develop joint projects and exchange expertise. It took place during a meeting between FCCI Secretary-General Humaid Mohammed bin Salem and JETRO Dubai Managing Director Masami Ando, ​​in the presence of officials from both sides, official news agency WAM reported.
In October, the UAE captured 40.1 percent of Japan’s crude oil demand, equivalent to 33.99 million barrels, according to the Tokyo Agency for Natural Resources and Energy.
The East Asian country imported 84.58 million barrels of crude oil that month, of which 80.1 million barrels or 94.7% came from five Arab countries: the United Arab Emirates, Saudi Arabia, Kuwait, Qatar, Bahrain and Oman. The agency is under the Ministry of Economy, Trade and Industry of Japan.
Oil remains Japan’s most important energy source, accounting for about 40 percent of the country’s total energy supply, according to the International Energy Agency.
Earlier this year, Dr Sultan bin Ahmad Al Jaber, Minister of Industry and Advanced Technology and Special Envoy for Climate Change, held a series of high-level meetings with Japanese government and business leaders. During the meeting, Dr. Al Jaber highlighted the UAE’s commitment to Japan’s energy security and said the country will continue to ensure reliable supplies of crude oil and liquefied natural gas (LNG) to Japan.
read: UAE, Japan strengthen bilateral ties in various fields
Meanwhile, starting November 1, UAE citizens are allowed to travel to Japan without having to obtain a visa in advance.
read: Emiratis can travel to Japan visa-free from 1 November
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