(MENAFN) During a recent visit by a UAE delegation led by Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology, to Tokyo, the UAE and Japan solidified their bilateral relations through several significant agreements aimed at enhancing economic cooperation and strategic partnerships. One of the key agreements involved Abu Dhabi-based energy giant Adnoc partnering with the Japan Bank for International Cooperation to secure USD3 billion in green financing. This initiative underscores Adnoc's commitment to reducing emissions and adopting low-carbon solutions in its operations, contributing to environmental sustainability.

Additionally, a memorandum of cooperation was signed between Adnoc and Japan's agency for Natural Resources and Energy to bolster strategic reserves and enhance collaboration in the energy sector. This agreement aims to ensure energy security and sustainability, crucial for stabilizing economies amid fluctuating energy prices and supply chain disruptions, according to an official statement.

Discussions during the visit also explored potential opportunities across various strategic sectors, including energy, technology, digital transformation, advanced industries, and finance. These talks highlight the shared commitment to fostering innovation and mutual growth between the UAE and Japan, leveraging their respective strengths and resources.

During his meetings in Tokyo, Dr. Al Jaber held discussions with Japanese Prime Minister Fumio Kishida, where both leaders reaffirmed the deep-rooted ties between their countries and expressed mutual intent to elevate their relationship to new heights. Dr. Al Jaber emphasized the importance of securing energy supplies and harnessing artificial intelligence tools to enhance efficiency in the energy sector, showcasing the UAE's commitment to advancing technological solutions in collaboration with Japan.

The bilateral trade between the UAE and Japan has shown robust growth in recent years. In 2023, total trade, including petroleum products, between the two nations amounted to approximately USD47.4 billion. Non-oil trade alone reached nearly USD15.6 billion, marking a 6.1 percent increase compared to the previous year, as reported by official figures. These trade statistics underscore the dynamic economic partnership between the UAE and Japan, driven by shared interests and a commitment to sustainable economic development.

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