Major Japanese investors held talks with their Saudi counterparts on the sidelines of the recent official visit of Japanese Premier Shinzo Abe to the Kingdom.
This was stated by Professor Etsura Honda, economic adviser to the premier.
“The two parties discussed many opportunities in view of the important role trade plays in economic relations. This is also part of Japan’s efforts to support economic recovery,” he said.
He indicated that trade between the two countries could expand further with additional incentives offered to investors.
“Representatives of Japanese companies are looking forward to strike business alliances with the Saudi nationals in various sectors, including energy technology and education, and the building of joint venture plants. We have a long history of business cooperation between the two countries, where we find that Japanese products are accepted and trusted by the Saudi market,” he added.
Jun Yoshida, Japanese Consul General in Jeddah, said the agreement to protect investments, which was signed during the visit of Abe to Saud Arabia, will result in an increase in the number of investments for the two parties.
“Many Japanese investors held talks with Saudi partners to establish large investment alliances. This was spurred by the availability of a system to protect the investments of both parties,” he said.
He added that there is considerable scope for economic cooperation, and there are regular meetings between the business sectors of the two countries.
He said: “There are meetings with Japanese economic experts, and we are looking forward to more interaction and participation in these meetings, for the benefit of the economies of the two countries, in a way that boosts commercial and cultural exchanges.”
Yoshida added: “Commercial exchanges will be expanded and transformed in the future, and they will go beyond exporting oil and importing cars.”
Reproduced with permission from Arab News