JETRO Co-Hosts the 5th Japan-Arab Economic Forum in Japan

On July 10, JETRO co-hosted the 5th Japan-Arab Economic Forum: Public-Private Economic Conference in Tokyo with the Japan Ministry of Foreign Affairs (MOFA), Ministry of Economy, Trade, and Industry (METI), and the League of Arab States. The forum featured panel discussions by government and business officials from Japan and Arab countries, and a session on climate change countermeasures discussed the possibility of cooperation between Japan and Arab countries. The event began with opening remarks by H.E Ken Saito, Minister of METI, followed by a keynote speech by H.E Ahmed Aboul Gheit, Secretary-General of the Arab League.

H. E. Ken Saito emphasized that Japan and the Arab countries have historically been important partners, with cooperation among companies advancing amidst the increasingly complex international situation. Mr. Tomohide Miyata, Chairman of Middle East Committee, Keidanren (Japan Business Federation), expressed hope for increased trade between Japan and Arab countries through a free trade agreement (FTA) with the Gulf Cooperation Council (GCC), which agreed to resume negotiations during Prime Minister Fumio Kishida's visit to the Middle East in July 2023.

The speakers from the Arab countries also noted that such visits by Japanese ministers to the Arab nations expressed a high level of interest in the region. They called for the provision of technology transfer, dispatch of human resources, and investment from Japan, which has the advanced technology, to address global challenges, including the transition to a decarbonized society, especially in the current complex international context. Many speakers also proposed establishing of a joint Japan-Arab Chamber of Commerce and Industry, and H. E. Ahmed Aboul Gheit’s keynote speech highlighted the need for the private sector, especially Japanese SMEs, to expand their business in the Arab region.

Panelists at the session on efforts to expand mutual investment included Mr. Kazunari Tanaka, Deputy Director-General of METI, and Mr. Koichi Noguchi, Director of NYS Centre at Yazaki Corporation. Mr. Tanaka suggested potential investment from Japan to Arab countries in areas such as AI and clean energy, citing Fujifilm's deployment of artificial intelligence (AI)-based health diagnostic tools in the Middle East and Marubeni's introduction of recycling technology to Arab countries as examples. Mr. Noguchi introduced the company's human resource development efforts in the Middle East and North Africa, noting the region’s large intellectual workforce and suitability as a base for high-level human resources development. He also spoked about the company's policy to make the region a major production base in the future.

The Arab speakers highlighted infrastructure, finance, and development assistance as key areas of investment for Japan in the Arab countries. They emphasized the abundance of business opportunities in the region, given its predominantly young population.