Business & Money | Wednesday 2 September, 2015 4:49 am |

Saudi Arabia and Japan are this year marking their 60th anniversary, with growing cultural and business relations.

Consul General Matahiro Yamaguchi met recently with Arab News Editor in Chief Mohammed Fahad Al-Harthi at the newspaper’s offices and said that interaction between the two nations go back over a century.

“Japan and Saudi Arabia established diplomatic relationships in June 1955. This year remarks the 60th anniversary of this great event. The exchanges between Japan and Saudi Arabia can be traced back to the year 1909,” the Japanese consul general said in a statement.
“This strategic relationship between the two friendly countries is based on mutual respect and common interests. The deep friendship between the two royal families, mutual visits of officials and business sector people and Saudi students in Japan greatly contribute to the progress and development of the bilateral relations.”

Yamaguchi said more than 95 Japanese companies are working in Saudi Arabia, with 40 active in the Western Region. Japan is the Kingdom’s third-largest trading partner. The volume of foreign trade between the two countries last year amounted to $56 billion. The Kingdom is considered Japan’s biggest oil exporter. Japan is ranked fifth in terms of direct foreign investment in the Kingdom with an estimated $15 billion. 

“Japan is ready to cooperate with Saudi Arabia in all infrastructure projects including metro projects, renewable energy, investments, scholarship and youth exchange programs, and vocational training.”
The consul general was accompanied by his adviser Mohamed Omer Elfaki. Senior editors from the newspaper joined the informal discussions.