Some 85 Japanese companies operate in Dubia, 37 of which are 100 percent are Japanese owned, according to the Director General of the Dubai Chamber of Commerce & Industry (DCCI), Abdul Rahman Ghanim Al-Mutaiwee.
"48 are partnerships, marking an increase of 77.8 percent since 1998," commented Al-Mutaiwee at a meeting with the newly appointed Managing Director of the Japan External Trade Organization (JETRO), Yoshio Minagi and the former Managing Director of JETRO, Nobuo Sato. "Although they have increased by 63 percent, I believe that Japan can further strengthen its presence in various sectors in Dubai," he added.
Al-Mutaiwee praised the important role JETRO has played in strengthening the Japanese position in Dubai and in supporting the Japanese companies based in the emirate. He highlighted that although Japan's trade with Dubai has not decreased in the last few years, countries like China and Korea have strengthened their position weakening Japan's presence. Although he pointed out that in reality, Japan is still Dubai's number one trading partner as many Japanese companies produce Japanese products from other countries in the subcontinent which somewhat distorts the true statistics.
On that subject, Minagai explained that many Japanese companies have followed that trend in the search for cheaper production and manufacturing costs, such as those available in Malaysia and Korea.
Minagai emphasized that Japanese companies recognize Dubai as a top market and suggested that a more stable currency would improve the Japanese economy, hence strengthening trade relations with Dubai and other countries in the region. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
