Abdallah Sultan Al Owais, chairman of the Sharjah Chamber of Commerce and Industry (SCCI), reiterated the Chamber’s dedication to enhancing economic collaboration with Japan. This commitment encompasses efforts to boost exports and create joint investment opportunities.
Facilitating knowledge exchange
Leveraging the existing business networks between the UAE and Japan, the Sharjah Chamber aims to facilitate the exchange of commercial knowledge and expertise, further promoting collaborative ventures between investors from both nations. This statement was made during a meeting at SCCI’s headquarters with H.E. Abdallah Sultan Al Owais and Jun Imanishi, Consul-General of Japan in Dubai and the Northern Emirates.
Key attendees and discussions
Attendees included Mohammed Ahmed Amin Al-Awadi, SCCI’s director-general, Fatema Khalifa Al Muqarrab, director of International Relations at SCCI, and several officials from both sides. The meeting focused on activating the Memorandum of Understanding (MoU) signed between the Sharjah Chamber and the Japan External Trade Organisation (JETRO), aimed at strengthening trade relations.
Exploring new opportunities
Discussions addressed opportunities for enhancing collaboration and partnerships in various promising sectors, increasing trade volume, and developing communication frameworks. The meeting also aimed to coordinate participation in economic events and trade exhibitions in both Sharjah and Japan, facilitating reciprocal visits by business leaders and trade delegations.
Emphasizing strong bilateral relations
Abdallah Sultan Al Owais praised the strong ties between the UAE and Japan, emphasizing the Sharjah Chamber’s crucial role in enhancing trade and investment connections. He highlighted SCCI’s commitment to creating opportunities for Sharjah’s business community and its Japanese counterparts to explore promising avenues and build partnerships, particularly in technology, innovation, and renewable energy.
Upcoming collaborative events
During the meeting, the Sharjah Chamber invited Japanese representatives to participate in the upcoming Middle East Electric Vehicle Show at Expo Centre Sharjah, recognizing Japan’s leadership in this industry. This engagement presents significant opportunities for collaboration in sustainable transportation.
Expanding participation in trade exhibitions
The Japanese diplomatic delegation was also encouraged to attend the forthcoming “ExpoCulinaire 2025” exhibition at Expo Centre Sharjah. Additional invitations were extended for future events such as “SteelFab 2025” and the Watch and Jewellery Middle East Show. Both parties agreed on an action plan to enhance joint participation in trade exhibitions, with the Sharjah Chamber presenting the 2025 Expo Centre events calendar to the Japanese delegation.
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Growing bilateral trade
In the overall trade landscape, the UAE emerged as Japan’s 7th largest trading partner globally in 2022, ranking 4th in Japan’s total imports from abroad.
According to the UAE’s Ministrty of Foreign Affairs, the UAE was the top supplier of crude oil to Japan, covering nearly 40 percent of the country’s total crude oil imports—a record achievement for the UAE in fulfilling Japan’s oil requirements in 2022.
In that year, Japan’s export value to the UAE reached approximately $8.5 billion, while imports totaled $46 billion, resulting in a total trade value of $54.5 billion.
The 12 percent increase in Japan’s exports to the UAE in 2022 can be largely attributed to a rise in shipments of various products, including cars (35 percent of total exports), motor vehicles (14 percent), delivery trucks (7 percent), spark-ignition engines (2.6 percent), rubber tires (2.5 percent), buses (2.3 percent), vehicle parts, large iron pipes, and machinery and equipment.
Japan’s imports from the UAE surged by 41 percent in 2022, primarily due to the post-pandemic economic recovery, rising crude oil prices driven by global demand, yen depreciation, and a boost in the UAE’s main export products, which included crude petroleum (79 percent of total imports), refined petroleum (8.5 percent), and petroleum gas (3.5 percent).
Inaugural meeting of the Pakistan Business Council
In September 2024, the Sharjah Chamber of Commerce and Industry hosted the inaugural meeting of the newly formed Pakistan Business Council in Sharjah. Launched earlier in the month, the council aims to strengthen investment and trade relations between the business communities of Sharjah and Pakistan, fostering sustainable economic growth for both nations.
Leadership appointments in the council
During the meeting, Dr. Syed Muhammad Tahir was appointed chairman of the Pakistan Business Council, with Syed Saleem Akhtar as first vice-chairman, Amer Hassan as second vice-chairman, and Salman Wasal as honorary treasurer.
Strategic initiatives for collaboration
Council members discussed drafting a comprehensive strategy and action plan to achieve the council’s objectives, including hosting regular networking events for prominent business leaders and investors from both Sharjah and Pakistan. This initiative will promote the exchange of expertise and provide a platform for exploring collaboration across various sectors.
Recent economic developments
The establishment of the Pakistan Business Council follows strengthened ties between the two countries. In May, the UAE announced a $10 billion investment in promising economic sectors in Pakistan. Earlier in January 2023, the UAE agreed to extend an existing $2 billion loan and provide an additional $1 billion to Pakistan, according to a statement from the office of the Pakistani prime minister.
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