A discussion was held in this regard on Wednesday between UAE Minister of Foreign Trade Sheikha Lubna Al-Qasimi AND Fumio Hoshi, executive director of the Japan Bank for International Cooperation (JBIC).

State news agency WAM said that Fumio Hoshi and Sheikha Lubna also discussed the ways of strengthening relations between the two countries in a meeting that was held at the ministry headquarters in Abu Dhabi.

Currently, over 92 registered Japanese companies operate in UAE in different sectors in addition to hundreds of Japanese firms working in the Free Zones. There are well over 130 Japanese trading agencies across the UAE dealing in 3680 brands.

Hoshi and Sheikha Lubna reviewed the investments opportunities existing in the UAE and explored the possibility of Japanese companies stepping up their investments, especially in the fields of renewable energy, manufacturing, and technology.

Sheikha Lubna has invited JBIC to benefit from the developed and unique economic growth in UAE by joining in different projects, which are on the anvil such as renewable energy projects. This can be enhanced through setting up joint partnerships with UAE firms investing in foreign countries.

The minister stressed the keenness of UAE for developing cooperation with Japan in the avenues of economy, trade and investment. She alluded to economic growth of the UAE, which is strengthened by the colossal projects launched by the country in various fields, particularly in infrastructure.

She explained the country’s strategy for economic diversification and the government’s plans to increase growth by launching several projects and vital programs, which will be consistent with the plans of the global firms for expansion and further development. She emphasized that the capabilities and the competitive features of UAE’s national economy present a lot of opportunities to Japanese firms for bolstering their investments in the country’s market.

Fumio Hoshi assured the importance of UAE market to his bank as well as other Japanese financial institutions. He also gave a brief presentation on JBIC and its stakes in a number of vital projects in the UAE, especially in energy and infrastructure sectors, and asserted the keenness of his bank in bolstering financial and investment cooperation with all Emirati institutions