The UAE and Japan have agreed to cooperate and help accelerate the energy transition and the adoption of technology in the industry.
Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and UAE Special Envoy to Japan, met with Yasutoshi Nishimura, Japan’s Minister of Economy, Trade and Industry, on the sidelines of Abu Dhabi Sustainability Week (ADSW) 2023, to discuss the countries’ strong bilateral relations and sign several memoranda of understanding.
The ministers discussed ways to further strengthen the bilateral relationship. They explored the hydrogen sector as a key component of energy transition and the importance of accelerating progress towards carbon neutrality and collaboration ahead of COP28, which will be held later this year in Dubai.
UAE-Japan bilateral economic partnership
The UAE has consistently supplied over 40 percent of Japan’s oil imports. In October last year, the UAE secured 40.1 percent of the country’s crude oil needs, which roughly equalled 34 million barrels out of Japan’s total import of 84.58 million barrels.
The volume of non-oil trade exchange between the two countries in 2021 amounted to more than AED49 billion ($13.34 billion), implying a 4.3 percent growth during the first nine months of 2022, year-on-year.
Dr Al Jaber said: “The UAE and Japan have a long-standing and strong relationship that has developed into a comprehensive economic partnership, underpinned by our leaderships’ commitment to enhance cooperation with strategic partners. We seek to build on this long-term partnership by exploring new opportunities for cooperation and investment.”
Among the several agreements signed, was an MoU between the Ministry of Industry and Advanced Technology and Japan’s Ministry of Economy, Trade and Industry regarding collaboration in the field of industry and advanced technology. It also aims to boost collaboration to accelerate the adoption of advanced technologies in support of both countries’ industrial goals and carbon reduction targets.
A joint study agreement was also signed between ADNOC and Tsubame BHB. The agreement explores opportunities in the field of research and development with the aim of finding new solutions for manufacturing ammonia.
Abu Dhabi Future Energy Company (Masdar) and the Japanese company JERA signed an MoU working together in the fields of green hydrogen and renewable energy.
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