The Japanese ambassador to Saudi Arabia, Norihiro Okuda, said his country is committed to implementing the Joint Saudi-Japanese Group as a part of the Saudi government’s economic transformation plan dubbed “Vision 2030”.
Okuda made the statement during his recent meeting with the Secretary-General of the Council of Saudi Chambers Saud Al Meshari at the headquarters of the Council in Riyadh.
Okuda expressed his country’s interest in enhancing trade and investment relations with the Kingdom and the establishment of the Joint Saudi-Japanese Group for Vision 2030, which will promote trade and business opportunities, energy and manufacturing, investment and financing, SMEs, and cultural and sports activities.
The envoy explained that the alignment between the Saudi economic vision and Japan’s economic reform plans presents several investment opportunities.
He also mentioned the setting up of the Saudi-Japanese Investment Fund, which is valued at around $100 billion and stressed the importance of the Saudi market to Japanese companies.
Japan is the second largest trade partner of the Kingdom, enjoying bilateral trade estimated to be currently worth $57 billion.
Japan’s largest volume of oil comes from the oil-rich Arab Gulf monarchy, while it exports a variety of products including automobiles and machinery to the world’s largest oil producer.