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Joint Statement on Strengthening the Bilateral Economic Relations
between Japan and Qatar

November 4, 2008

On November 4, 2008, H.E. Mr. Hirofumi Nakasone, Minister for Foreign Affairs of Japan and H.E. Mr. Toshihiro Nikai, Minister of Economy, Trade and Industry of Japan on the Japanese side, and H.E. Mr. Abdullah Bin Hamad Al-Attiyah, Deputy Premier, Minister of Energy and Industry of Qatar on the Qatari side, held the third meeting of the Japan-Qatar Joint Economic Committee in Tokyo. As the result of the meeting:

1. Both sides welcomed the holding of the third meeting of the Japan-Qatar Joint Economic Committee on the occasion of H.E. Mr. Abdullah Bin Hamad Al-Attiyah's visit to Japan.
2. Both sides shared the common recognition that the visit to Qatar by H.E. Mr. Hiroshi Okuda as the Special Envoy of the Prime Minister in May 2008 highlighted the advancement in strengthening the bilateral economic ties.
3. Both sides also welcomed that three Working Groups established at the first Joint Economic Committee held in November 2006, namely the Energy Working Group, the Improvement of Business Environment and Investment Working Group, and the Comprehensive Working Group, had taken place after the second Joint Economic Committee held in November 2007 to discuss a broad range of topics. And thus three Working Groups had been playing an important role in further developing the economic relations between the two countries.
4. Both sides stressed their common intention to proceed with the Joint Economic Committee and its three Working Groups in an active and constant manner.
5. Both sides shared a view that well balanced supply and demand are important
   to stabilize the global energy market. Both sides also reaffirmed that continuing dialogue and cooperation between energy producers and consumers are important in this respect.
   
   Both sides confirmed that the excessive fluctuation of oil price is not desirable to both energy producers and consumers. Also, both sides confirmed that further enhancement of Joint Oil Data Initiative (JODI) is needed to improve market transparency which will contribute to stabilizing oil price.
   
   Both sides confirmed the close cooperation in order to bring success at The Third Asian Ministerial Energy Roundtable Meeting to be co-hosted by Minister of Economy, Trade and Industry of Japan and Minister of Energy and Industry of Qatar in 2009.
   
   The Japanese side reported the arrival of Q-Flexes at Higashi Niigata Port and Ohgishima LNG Station. At the same time, it also reported on necessary preparations for receiving Qatari LNG tankers (Q-Flex and Q-Max) at its ports. The Japanese side also expressed its intention to continue appropriate measures in an expeditious manner so as to improve and expand the transportation of LNG from Qatar.
   
   The Qatari side appreciated such Japanese efforts and expressed its view that Qatar would endeavor to supply oil and gas including LNG to Japan at mutually acceptable terms and conditions in a stable manner, and the Japanese side appreciated such Qatari intension.
   
   Both sides reconfirmed the significance of promoting Gas-To-Liquid (GTL) technologies, as an effective means for future clean energy supply and a means which could contribute significantly to stabilizing the international energy market through diversification of energy resources.
   
   Both sides welcomed mutual investment activities, including the up-and down-stream of energy sector, and reaffirmed that they would continue discussions on concrete projects concerning the expansion of mutual investment activities through appropriate channels.
   
   
6. Both sides stressed the firm intention to continue an approach in an active manner for the creation of better business environment for both countries based on the Action Plan established by the Business Environment and Investment Working group so far. Both sides confirmed to discuss broad range of fields such as financial services, industrial standards as well as information and communication technologies so as to strengthen bilateral economic relationships.
7. Both sides reiterated the importance of expanding mutual investment opportunities between the two countries, and emphasized the need to decide the earliest date of the first meeting for the negotiation on a bilateral investment agreement.
8. Both sides also welcomed the start of the negotiation for the exchange of notes concerning the avoidance of double taxation on income in respect of the operation of ships or aircrafts in international traffic so as to reach a suitable arrangement for both countries' interests.
9. Both sides emphasized the importance of holding, at the earliest, the third round of negotiation for the Free Trade Agreement (FTA) between Japan and the Gulf Cooperation Council (GCC). Both sides shared the view that the early conclusion of the FTA would further strengthen the economic relations, achieving a high-level of liberalization of trade in goods and services.
10. The Japanese side emphasized the significant contribution that will be made by the wide use of environmentally friendly regional passenger aircraft developed in Japan for solving the environmental problems. The Qatari side expressed its interest in this project.
11. Both sides reaffirmed the importance of continuing discussions on the way to strengthen the bilateral economic relations under the framework of the Joint Economic Committee and decided to convene the fourth meeting of the Committee as soon as possible, taking into account the discussion of each working group.