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ABU DHABI / Emirates Business
The UAE Ministry of Economy (MOE) signed a Memorandum of Cooperation (MOC) with its counterparts from Japan on key aspects concerning innovation and small and medium enterprises (SMEs) to promote joint initiatives, knowledge and technology transfer, the exchange of experiences, and the streamlining of business operations of SMEs located across the UAE. The initiative is in line with the Ministry’s agenda for enhancing and expanding this important sector so that it can better support the national economy and raise the UAE’s regional and international competitiveness.
The memorandum was signed by HE Eng. Sultan bin Saeed Al Mansoori, UAE Minister of Economy and Japanese Minister of Economy, Trade and Industry Hiroshige Seko.
A Memorandum of Cooperation between the RAK Investment Authority (RAKIA) and Takenaka Middle East was also signed on the sidelines of the event and involves a joint venture project in Ras Al Khaimah for setting up a manufacturing plant for anti-rust material which uses the highest standards in precision technology. Yasser Abdullah Al-Ahmad, Head of Government and Institutional Relations for RAKIA, signed the memorandum.
HE Al Mansoori said that the economic relations between the UAE and the Republic of Japan serves as an important model of joint cooperation characterized by a clear vision and pioneering development plans aimed at realizing the aspirations of the two countries.