The Saudi-Japanese Joint Business Council recently convened in Riyadh, with notable attendees including Saudi Minister of Investment Khalid Al-Falih and Japan’s Minister of Economy, Trade and Industry Muto Yoji. The meeting attracted over 80 representatives from various companies and institutions from both nations.
The Japanese delegation featured members from industrial, commercial, and financial sectors, focusing on modern technologies and the Saudi market. Discussions centered on expanding investment opportunities in line with the Saudi-Japan Vision 2030.
Khalid Al-Falih highlighted the crucial role of the Joint Business Council and the Japan Cooperation Center for the Middle East in bolstering bilateral relations. He praised Japanese innovation and encouraged collaboration, noting the expansion of cooperation into sectors like renewable energy, biotechnology, and artificial intelligence.
Minister Muto Yoji emphasized the significance of private sector involvement in enhancing trade relations, foreseeing growth in industry and advanced technologies partnerships.
Waleed Alorainan of the Federation of Saudi Chambers lauded the evolving Saudi-Japanese relationship, stressing the Joint Business Council’s pivotal role in economic ties. Tariq Al-Qahtani, chairman of the council, urged Japanese firms to leverage Saudi incentives, aligning with Japan’s strengths in industries such as electronic manufacturing and education. He noted the trade volume between the nations has reached $41 billion.