His Excellency Dr. Omar Bin Sulaiman, Governor of the Dubai International Financial Centre (DIFC), presided at the inauguration of the new office of the Sumitomo Mitsui Banking Corporation (SMBC) at the DIFC.

The DIFC Governor also welcomed Teisuke Kitayama, Chairman of the Board of SMBC, to the emirate.

SMBC is one of the world's leading financial institutions, with over 400 branches both in its homeland of Japan and throughout the world. In addition to its DIFC office, SMBC serves the Gulf region with strategic offices in Manama, Tehran and Cairo.

Welcoming Chairman Kitayama to the DIFC, Dr. bin Sulaiman said:

'This visit underscores the strength of the relationship between the UAE and Japan, which currently accounts for nearly a quarter of all UAE exports. Economic ties between these two nations are indeed of vital importance: the UAE is one of the world's most dynamic emerging economies, and Japan is home to one of the world's most fully developed financial services industries. The two nations have established a mutually beneficial relationship, which continues to develop - as evidenced by SMBC joining the DIFC.'

He added: 'We are especially pleased to welcome Teisuke Kitayama to the DIFC. His long and illustrious career in banking, spanning over three decades, has culminated in his current leadership role at Sumitomo Mitsui Banking Corporation, one of the leading financial institutions in Japan and across the world. It is a great pleasure to welcome him to the DIFC, the leading international financial centre serving the time zones between Western Europe and East Asia.'

Chairman Kitayama said: 'In today's increasingly globalised economic environment, strengthening East-East ties is of critical importance. The opening of our new office at the DIFC will further that effort, and provide SMBC with an ideal platform from which to reach out to this rapidly developing region of the world. We are extremely pleased to join the DIFC, and look forward to working together for many years to come.'