TRADE ties between Japan and the UAE have been highlighted at the launch of ‘Pilot Shop’ recently, an event showcasing the ingenuity of Japanese lifestyle products and organised byJapan External Trade Organisation (JETRO).
The event, slated on November 3-14 at the Dubai Mall, features new products from 22 of Japan’s small- and medium-sized enterprises.
With the theme “Simply Japan”, the event aims to monitor UAE consumer response towards various Japanese-made products, said Kuniyasu Funaki, CEO of JETRO Dubai and MENA.
Citing increased investor confidence and various signs of economic recovery, Funaki said he expects bilateral trade to pick up in the coming months, following a drop in exports.
Japan exported $3.08 billion worth of goods to the UAE during the first six months of the year, or 37.5% lower than a year earlier. But the UAE remains Japan’s top export market in the Gulf, covering 39.3% of the GCC (Gulf Co-operation Council) market.
“The decline in exports was attributed to several factors, including a lower demand and shortage of credits in the region, and the strengthening of the Japanese yen,” JETRO said in an economic note.
Funaki said that during the event, unique lifestyle products will showcase Japan’s ingenuity in creating cutting-edge designs that cross between traditional and modern styles.
Having the highest-level of Japanese craftsmanship, precision, quality and creativity, the products will be available in the UAE for the first time.
Japan’s Consul General to Dubai Seiichi Otsuka graced the one-hour opening ceremony at the Star Atrium of Dubai Mall. The executive vice-president of JETRO, Tokuyuki Sudo, as well as Nasser Rafi, CEO of Emaar Malls Group, which operates the Dubai Mall were also present.
In the UAE, there are around 350 offices of Japanese companies, 280 of which operate from Dubai. Every year, at least 20 Japanese firms set up their business in the country.