Shinzo Abe visits United Arab Emirates to Advance Liberal Trade

 

Photo Caption: Emirati President Sheikh Khalifa bin Zayed al-Nahayan (Right) meeting with Japanese Prime Minister Shinzo Abe (left) in Abu Dhabi.

Shinzo Abe’s visit to the United Arab Emirates was the first by a Japanese premier in almost three decades. The main focus of this meeting was to boost economic ties and speed up talks on a free trade pact.

In order to pursue the goal of strengthening economic ties, the two leaders agreed to establish a joint economic committee consisting of the Japanese Foreign and Trade Ministers and the United Arab Emirates Foreign Minister. Abe and Sheikh Khalifa agreed that the committee should meet together as soon as possible.

This committee will make an effort to reach a free trade agreement with the Gulf Cooperation Council. Japan is clearly expecting a business opportunity with the United Arab Emirates (UAE). Japan is especially interested in the UAE because of its vast oil supplies. Japan is increasingly concerned by potential threats to its energy supply. Virtually no oil or gas reserves can be found in Japan, and Japan relies for more than 70% of its oil supply from the Persian Gulf. Abe is expected to visit four of these states in the near future to discuss economic ties with them as well.

Source: http://news.yahoo.com/s/afp/20070429/wl_mideast_afp/mideastjapandiplomacy_070429172124;_ylt=AuXMZgUck7KgU0DqDoFC9dQZO7gF