The Saudi Ministry of Industry and Mineral Resources announced a significant step forward in Saudi-Japanese bilateral relations with the signing of a memorandum of cooperation.
The agreement, inked by the Saudi Minister of Industry and Mineral Resources and his Japanese counterpart, Minister Saito Ken, focuses on mining and mineral resources. This announcement was made through a post on the social media platform ExN.
This development follows the establishment of the Manar Initiative for Clean Energy Cooperation between the Kingdom and Japan.
The initiative was launched during a meeting between Saudi Crown Prince and Prime Minister, Mohammed bin Salman, and Japanese Prime Minister, Kishida Fumio, on July 16th in Jeddah.
Both ministers reviewed the progress made in the Manar Initiative, which includes cooperation in several key areas: hydrogen and ammonia, synthetic fuels, carbon circular economy and recycling, vital minerals for the energy sector, enhancing supply chain resilience and recovery capacity, development of sustainable materials, and the exchange of expertise, knowledge, and research outcomes.
During their dialogue, the ministers underscored the need to support the stability of global oil markets and achieve sustainability and security of global energy supplies.
This involves enhancing dialogue between producers and consumers. The Saudi Press Agency (SPA) noted that the Kingdom is Japan’s largest oil supplier, making it a reliable partner in this regard.
Furthermore, the ministers agreed to continue strengthening bilateral relations and contribute to global efforts towards achieving net-zero emissions.
They emphasized the importance of countries adopting diverse paths, in line with their national circumstances, to reach net-zero goals while simultaneously enhancing energy security and supporting economic growth.
This collaboration under the Manar Initiative reflects a shared commitment to addressing global energy challenges and fostering economic development, marking a significant milestone in Saudi-Japanese cooperation.
