UAE hosts 41% of Japanese firms in Mideast

Japan’s imports from the UAE during the first half of the year reached Dh60 billion registering a 55 per cent growth in comparison to the same period last year indicating a robust growth pattern for future trade prospects, said Hamad Buamim, Director General, Dubai Chamber of Commerce and Industry, during the third quarterly Country Focus Briefing held on Wednesday at the Chamber premises.

After successfully exploring the Latin American and European markets, the chamber’s quarterly initiative turned the spotlight on the Asian market by focusing on Japan. The briefing entitled Investment Opportunities in Japan was organised in cooperation with the Consulate General of Japan and Japanese External Trade Organisation (Jetro) and attended by Takashi Ashiki, Consul General of Japan, Hiroki Matsumoto, Managing Director, Jetro, Kiyoshi Masuko, Chairman, Japanese Business Council, and over 100 business representatives and members of Business Councils and Business Groups operating under the umbrella of the chamber.

Buamim said that Japanese companies have a long history selling their goods in Dubai and offering expertise in engineering and technology, as there are several ongoing projects in the areas of power, water, transport, and telecommunications. He also informed the gathering that the Dubai Chamber building was designed by a Japanese designer, Nikken Sekkei.

Said Buamim, “Dubai is a major hub for Japanese exports in the region. The emirate enjoys excellent trade ties with Japan as the country ranked 6th on the list of Dubai’s top trading partners in the world as the emirate’s non-oil trade with the country amounted to approximately Dh25.3bn in 2009.”

The Director General of the Chamber stressed that Japan’s major exports to UAE are capital and consumer goods for domestic consumption and for re-export, mainly to countries in the region and in Africa. Vehicles and their parts and accessories are Japan’s main exports to the UAE, he said.

Buamim further stressed that Dubai is an ideal destination for Japanese tourists travelling to the region. Regular non-stop Emirates airline flights from Osaka and Tokyo to Dubai serve both travel and cargo businesses hence immense opportunities to use this connection to develop tourism and trade ties further, he added.

Takashi Ashiki, Consul General of Japan said that the Middle East hosts the largest Japanese community as the Japanese actively participate in Dubai’s landmark projects, a bright example of which is the Dubai Metro. He also said that Japan offers advanced IT industries and cutting-edge technology to the UAE as part of their strategic partnership which is poised for a stronger future growth.

Added Hiroki Matsumoto, Managing Director, Dubai and Mena, JETRO, saying that the organisation’s core activity is to promote cross-border business and tie-ups in high-tech and other key industry sectors. He informed that Japan’s exports to the UAE touched $6.49bn in 2009 as it ranked 20th on the list of Japan’s top export destinations in the world and first in the GCC with automobiles leading the export items (31 per cent) followed by hardware which was 20 per cent.

Matsumoto further said that Japan’s imports from the UAE clocked $22.7bn in 2009 as the country ranked 6th on the list of countries exporting to Japan. He lauded the trading ties between Japan and the UAE which he said until the end of October 2009 there were 306 Japanese companies operating in the UAE which accounts for 41 per cent of the total of Japanese companies operating in the Middle East.

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