Abu Dhabi-Japan Economic Council supports energy transition and sustainable development

 Abu Dhabi-Japan Economic Council supports energy transition and sustainable development

Abu Dhabi- 7 March 2024:

The 10th session of the Abu Dhabi-Japan Economic Council (ADJEC) held Today in Abu Dhabi, emphasised the Council’s commitment to support delivering the objectives of UAE Net Zero 2050, COP28, and UN Sustainable Development Goals (SDGs).

Hosted by the Abu Dhabi Department of Economic Development (ADDED) and the Japan Cooperation Center for the Middle East (JCCME), the session continued to mark a successful collaboration and showcased a dedication to fostering a sustainable future.

H.E. Ahmed Jasim Al Zaabi, Chairman of ADDED, and H.E. Kodaira Nobuyori, President of JCCME, co-chaired the 10th session, which was attended by H.E. Kazuchika Iwata, Japan’s state minister of economy, trade, and industry, H.E. Akio Isomata, Ambassador of Japan to UAE, H.E. Shihab Ahmed Alfaheem, UAE ambassador to Japan, and senior officials, executives, government officials, business owners, and SMEs.

ADJEC’s 10th session addressed energy transition and green innovation, hosting group activity reports on sustainable energy, infrastructure, education, human resources development and other relevant topics.

His Excellency Ahmed Jasim Al Zaabi, Chairman of ADDED said: “Over the past years, the cooperation between Abu Dhabi and Japan has diversified and evolved significantly, boosting trade and investment. ADJEC continues to be a vital platform for fostering economic cooperation and a means to explore new avenues for collaboration.”

“Since the 9th session hosted by JCCME in Tokyo last March, we made great progress to take our cooperation to new heights. During the Prime Minister of Japan’s visit to the UAE in July 2023, over 20 agreements were signed between Abu Dhabi entities and their counterparts in Japan to further strengthen our robust and longstanding ties”.

“As one of Abu Dhabi’s top trading partners, it is crucial that the 10th session of ADJEC underscored our commitment to achieving net zero emissions by 2050. The UAE has extended the Year of Sustainability, reflecting our ongoing collective commitment, and we are accelerating our initiatives to foster a future characterised by sustainable economic development,” said H.E.             Al Zaabi.

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In his opening speech, His Excellency Kodaira Nobuyori, President of the Japan Cooperation Centre for the Middle East, and Co-Chairman of ADJEC stated: “At COP28 under the UAE’s chairmanship, a commitment was made by signatory countries including Japan to accelerate the energy transition and act over the next ten years to achieve the “net-zero emissions goal” by 2050. This comes amidst the global trend where the transition towards carbon neutrality is becoming a long-term challenge. Considering this shared challenge, I believe there are ample opportunities for multi-layered cooperation between Abu Dhabi and Japan for the next generation.”

“ADJEC’s working groups: sustainable energy, education and human resources development, and infrastructure are playing pivotal role in strengthening our development programmes. Focusing on decarbonisation, we have conducted workshops for Japanese companies and Abu Dhabi institutions and companies to provide valuable insights for future developments,” H. E. Kodaira Nobuyori added.

H.E. Shihab Ahmed Alfaheem, UAE ambassador to Japan, said: “Our economic relations covers various sectors, and we are eager to expand and diversify our relationship further. The new Japan-UAE Innovation Partnership (JUIP), which consist of three pillars, will pave the way to strengthen our partnerships in fields such as clean energy, green chemicals, recycling technology, as the world is making strides towards decarbonisation. 

The UAE is one of Japan’s top trading partners in the Middle East, while Japan is UAE’s third largest trading partner globally. Total volume of trade between Japan and the UAE for the first 10 months of 2023 exceeded $38.2 billion (AED 140.6 billion). The non-oil trade with Japan increased by 36% over the course of two years from $10.8 billion (AED 39.7 billion) in 2020 to $14.7 billion (AED 54 billion) in 2022.

Since its launch in 2011, ADJEC has significantly contributed to strengthening bilateral relations between Japan and Abu Dhabi, creating business opportunities, and facilitating trade and investments.

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