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TOKYO — Japan and the United Arab Emirates on Wednesday agreed to start negotiations on an economic partnership agreement, as Tokyo hopes to boost its automobile and machinery exports while promoting investment in energy.
Japan’s exports to the UAE totaled 1.57 trillion yen ($11.1 billion at current rates) in 2022. The Middle Eastern country levies a 5% tariff on many items, including autos, and these account for about 60% of the total. Japan hopes to negotiate a reduction or elimination of these duties in the partnership agreement.
