Saudi Investment Minister, Khaled Al-Falih, announced today, Sunday, the signing of 26 cooperation agreements with Japan to strengthen the partnership between the two countries. Speaking on the sidelines of a meeting with Japan’s Prime Minister, Fumio Kishida in Jeddah, Al-Falih revealed the new agreements aim to bolster ties with Japan.
“The Kingdom is keen to provide a favorable environment for Japanese investors,” he noted, highlighting that Japan is Saudi Arabia’s third-largest trading partner.
In his remarks, Japan’s Prime Minister confirmed that Saudi Arabia is an important strategic partner for Japan. “We will cooperate with Saudi Arabia in the field of semiconductors, and we will support them with advanced technology for clean energy,” he pledged.
In a separate statement, Saudi Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz welcomed Japan’s Prime Minister Fumio Kishida’s visit. He explained that Saudi Arabia and Japan are strategic partners in the field of energy, emphasizing the partnership has been significantly enhanced under the targets and programs of Vision 2030.
The Minister added that the two countries agree on various energy-related issues, such as supporting the stability and balance of the global oil markets by encouraging dialogue and cooperation between producing and consuming countries, and the need to ensure the security of energy supplies from all sources in the global markets.
The Saudi Energy Minister affirmed that the relationship between Saudi Arabia and Japan in the field of energy has been ongoing for over half a century, characterized by solidity and trust. Both countries are keen to develop and diversify it to serve their mutual interests and support the development and stability of the energy sector and the global economy.
