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Japan, UAE to boost trade ties
Japan, UAE to boost trade ties
Monday April 30, 2007
Japan and the resources-rich United Arab Emirates agreed on Sunday to launch a high-level dialogue aimed at boosting economic ties and to speed up talks on a free trade pact.
Japanese Prime Minister Shinzo Abe met the president, Sheikh Khalifa bin Zayed al-Nahayan, at Al-Mushrif palace hours after arriving in the UAE on the first such visit by a Japanese premier in almost three decades.
"During the meeting, the two leaders agreed to further strengthen economic relations between the two countries," said a Japanese government official on condition of anonymity.
"In order to develop their economic ties, they agreed to set up a joint economic committee at ministerial level," the official said.
Japan plans to appoint its foreign and trade ministers to the committee while the UAE will send its foreign minister, the official said, adding their first meeting will be held "at the earliest time" possible.
The two sides also agreed to accelerate efforts to reach a free trade agreement with the Gulf Cooperation Council, the official said.
Japan and the six oil-rich GCC nations -- Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE -- began free trade talks last year with the intention of concluding an accord in 2008.
Abe also addressed a seminar that included the 180-strong delegation of Japanese businessmen travelling with him.
"This large-scale economic mission reflects Japan's expectations of a business opportunity in the UAE, which has been developing rapidly," Abe told the seminar.
Sheikh Khalifa told the premier: "It is important (for the UAE) to have the presence of Japanese companies, no matter whether they are engaged in energy or not."
The emirate of Abu Dhabi sits on most of the UAE's oil and gas reserves, ranked fifth and fourth in the world respectively.
Amid regional tensions, the two countries urged Iran to comply with UN resolutions and seek "a diplomatic solution" to the crisis over its nuclear ambition, a joint statement said.
Japan and the UAE also agreed to work together to help progress the Middle East peace process, underlining "the pivotal importance of stability of the Middle East for the entire world," according to the statement.
Japan's first leader to be born after World War II also met crown prince Sheikh Mohammad bin Zayed al-Nahayan later on Sunday.
AFP
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