Al Mansouri and Japanese counterpart discuss bilateral cooperation

TOKYO: Sultan bin Saeed Al Mansouri, Minister of Economy and Yoichi Miyazawa, Japanese Minister of Economy, Trade and Industry have discussed joint cooperation between the two countries in the economic and trade fields and opportunities for future investment. During the meeting, which was held in Tokyo on the side-lines of the visit of the UAE delegation to Japan to review the prospects of bilateral relations between the two friendly countries and ways of enhancing them, the two sides also agreed to sign a Memorandum of Understanding, MoU, in the field of small and medium enterprises, allowing the exchange and transfer of expertise and to take advantage of the distinctive experience of Japan in this regard. The two ministers gave instructions for the rapid forming of a joint working group of both countries to start the necessary procedures to prepare a Memorandum of Understanding according to a specific timetable. Al Mansouri said that the UAE and Japan have strong and distinguished relations and the definite desire of both parties in developing and strengthening them. He pointed out that Japan is a strategic trade partner to the UAE as the size of non-oil trade amounted to about US$14 billion at the end 2014, noting that the trade exchange numbers can still be improved in light of the possibilities and capabilities of the two countries. He added that the UAE considers Japan as a distinctive destination for family tourism, pointing out that one of the key challenges facing tourism exchange growth between the two countries is the lack of adequate direct flights between the two countries, which should be improved in the future by increasing the number of direct flights between the two countries. Al Mansouri extended an invitation to Japanese businessmen and investors to visit the UAE and explore the horizons of cooperation and the promising investment opportunities in various sectors economic and trade fields. For his part, the Japanese Minister said that the UAE is the second largest supplier of oil to Japan and is among the top strategic partners, praising the strong relations between his country and the UAE in various sectors, especially the economic sector. He referred to the many Japanese companies located in the UAE, especially in the food sector and medical fields, in addition to companies that have the desire to enter the UAE market and access markets in the Middle East, especially in the areas of technology and renewable energy. He expressed his country's desire to strengthen the bonds of cooperation with the UAE in various sectors and the exchange of experiences in areas of common interest, so as to enhance the volume of cooperation between the two countries. He noted the importance of Al Mansouri’s visit and his participation in the Japan – UAE Business Forum, referring to the importance of such visits in strengthening the bridges of cooperation between the two sides. During the meeting, the two sides reviewed investment opportunities in all sectors and how to develop cooperation in the field of the establishment of investment projects, by taking advantage of available potential and encourage the private sector and businessmen in both countries to take advantage of the existing investment opportunities. The UAE delegation included Abdullah Al Tarifi, CEO of the Securities and Commodities Authority, Abdul Baset Al Janahi, CEO of Mohammed bin Rashid for the Development of Small and Medium Enterprises Foundation, Marwan Al Serkal, CEO of Sharjah Investment and Development Foundation, Shoroq, and Moataz Al Fahim, Charge d'Affaires at the UAE Embassy in Japan. – Emirates News Agency, WAM - http://www.wam.ae/en/news/emirates/1395286118341.html