KPMG first accounting firm in the UAE to launch a Japanese Desk

This is KPMG's proactive initiative to help Japanese Companies already operating in the UAE and those considering investment in this region.

KPMG's service will aim to cater to the needs of more than 300 Japanese companies operating in the UAE by providing J-Sox Services, new business set-up support services, feasibility studies, transaction support and Islamic Financial advisory for Japanese Financial institutions and companies planning to issue Islamic bonds.

A recent report underlines the fact that Japan-UAE bilateral trade for the first six months of 2007 stood at $18,788.63m (signifying an increase of 4.35%), compared to $18,006.02m for the same period in 2006.

Akira Moriwaki, Head of Japanese Desk in the UAE stated "The spectacular increase in Japanese exports to the UAE highlights the rapid economic growth within the GCC region. Moreover, the UAE remains the largest export market among the Gulf region receiving 35.2% share of Japan's exports."

The launch of "The Japanese Desk" comes in line with this positive market trend and will help to strengthen economic ties between the two countries. The new initiative will proactively assist Japanese companies to set up and operate in the UAE.

Japan, the land of the rising sun, is a leading exporter to the UAE with 25.5% of the market. A significant proportion of the Japanese companies operating in the UAE are located in the Free Trade Zones with a major focus on re-export, new investments, operations in infrastructure, and real estate.