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Saudi Arabia, Japan Discuss Trade Exchange and Investment Incentives

Sunday, 09 January 2011 01:29

Saudi Arabia- Saudi Minister of Economy and Planning Khalid Bin Mohamed Al-Qusaibi conferred with Japanese Minister of Economy, Trade and Industry Akihiro Ohata who is now visiting the kingdom.

Talks during the meeting dealt with the development of strategic relations between the Kingdom of Saudi Arabia and Japan in the fields of economy, trade, and investment and the incentives Saudi Arabia offers to the foreign investors.

The two sides also expressed joint desire to upgrade bilateral relations at all levels. Meanwhile the saudi minister briefed the japanese official on the due concern saudi arabia accord to stepping up japan's investments in the kingdom , reflecting the national plan goals aiming at encouraging the investment environment and revitalizing the developmental role of the private sector for diversifying the productive base of the national economy.

For his part, Saudi Ambassador to Japan, Dr. Abdulaziz bin Abdulsattar Turkistani, has commended the development of strategic relations between the Kingdom of Saudi Arabia and Japan in the fields of economy, trade, and investment, describing the bilateral relations between the two countries as strong.

In a statement to the Saudi Press Agency (SPA) on the occasion of visit of Japanese Minister of Economy, Trade and Industry Akihiro Ohata to the Kingdom on Saturday and Sunday, the Saudi Ambassador stressed that relations between the two countries are considered as a major partnership in various political and economic fields.

''These relations have been well-supported by the keenness and interest of the Custodian of the Two Holy Mosques King Abdullah Ibn Abdulaziz Al Saud, the Deputy King and the Second Deputy Premier'', said the ambassador and pointed out that the volume of trade exchange between the two countries rose from SR 58 billion in the year 2000 to more than SR 136 billion in 2009, indicating that Japan imports about a third of its oil needs from the Kingdom of Saudi Arabia.

The Japanese Minister of Economy, Trade and Industry Akihiro Ohata arrived here Friday evening.
(SPA)

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