Call to boost UAE, Japan ties

There is a need for greater economic co-operation between the UAE and Japan, especially in the fields of renewable energy, industry and investment, according to Sheikha Lubna Al Qasimi, the UAE's Minister for Foreign Trade.

While meeting a visiting Japanese team in Abu Dhabi yesterday headed by the Japanese Vice-Finance Minister, Sheikha Lubna said bilateral relations between the two countries, especially in the economic sphere, needed to be upgraded further.

Citing the example of the Masdar Company set up in the UAE as a quality step in the renewable energy sector, she called for greater Japanese participation in the area of eco-friendly and renewable energy. Lubna briefed the Japanese side about the UAE's economic boom and the development of foreign trade with other countries. The UAE has been ranked 30th by the World Trade Organisation recently in the list of the world's most active trading countries. The UAE's global trade has crossed Dh1 trillion, she said.

She said trade between the UAE and Japan has grown, particularly in the commodities sector, after an increase in investments between the two countries. She urged the Japanese side to further benefit from the strategic location of the UAE to develop their re-export market. The Japanese team reiterated the Asian giant was keen to boost economic relations with the UAE in all spheres.