In the first half of 2023, the UAE and Japan shared non-oil trade worth US$7.4 billion, a rise of 4.2 percent compared to the same period in 2022.
The UAE’s non-oil exports to Japan exceeded US$718 million, while imports from Japan to the UAE amounted to US$6.3 billion in H1 2023. Re-exports from the UAE to Japan reached US$421 million.
The importance of the relationship was also reflected by an official visit from Japan’s Prime Minister Fumio Kishida to the UAE in July 2023, and the corresponding bilateral agreements that were signed in the fields of energy, industry, advanced technology, artificial intelligence, space, health, transport, and the circular economy.
As per the latest data, Japan is one of the UAE’s largest investment partners. Japanese investment into the country currently exceeds US$3.3 billion, accounting for 3 percent of total FDI inflows, and 13 percent of investments from non-Arab Asian countries. At the same time, the UAE is one of the most important Middle Eastern investors in Japan, with investment valued at US$1.2 billion at the end of 2022, which represents 42 percent of total MENA region investment in Japan.
Also published on Medium.
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