The Dubai Chamber of Commerce & Industry, in its recently released study, has said that the entire market of the Middle-East uses goods made in Japan and the UAE is the top market of Japanese product in the region. The export though remained under pressure due to financial crisis, has now started to pick up in response to the signs of global economic recovery.
Japanese exports to UAE, which was at Yen 230 billion or a share of 10% to Japan's total exports to the region in 1979, has now reached to a total value of Yen 1,124 billion in 2008, indicating popularity of its products with the UAE market. In nutshell, Japan's exports to UAE continued to rise 20 per cent annually. However, the country's exports to UAE declined significantly from the 4th quarter of 2008.
HE Eng Hamad Buamim, Director General, Dubai Chamber informed that Japan has been ranked at 7th place in the list of Dubai's top trading partners in the World reflecting strong business ties between two nations.
UAE primarily imports vehicles and their accessories from Japan. However, tough financial conditions dropped the value of this category by 68% in 2009 to a value of Yen 136 billion as compared to Yen 431 billion, a year earlier.