Business & Money | Thursday 1 December, 2016 10:51 am |

Japanese Ambassador Norihiro Okuda said his country is committed to implement the Joint Saudi-Japanese Group for Vision 2030, signed by Deputy Crown Prince Mohammed bin Salman in Tokyo in September. 
Okuda made the statement during his recent meeting with Secretary-General of the Council of Saudi Chambers Saud Al- Meshari at the headquarters of the council here. The meeting took place with a view to strengthening trade relations between Japan and Saudi Arabia. 
Okuda expressed his country’s interest in enhancing trade and investment relations with the Kingdom. He mentioned the positive results of Deputy Crown Prince Mohammed bin Salman’s visit to Japan, which witnessed the signing of a number of agreements and partnerships, including the establishment of the Joint Saudi-Japanese Group for Vision 2030, which formed five task forces to promote trade and business opportunities, energy and manufacturing, investment and financing, SMEs, and culture and sports.
The envoy explained that the alignment between Saudi Vision 2030 and Japan’s economic reform plans presents several investment opportunities to be utilized through joint ventures. He also mentioned the setting up of the Saudi-Japanese Investment Fund, whose investments were valued at around $100 billion, to enhance investments in international technology. He also stressed the importance of the Saudi market to Japanese companies, being one of the largest in the Middle East and among the leading G-20 economies.
Both parties agreed on maintaining cooperation between SMEs in Saudi Arabia and Japan and benefiting from Japan’s experience in this area in developing the SME sector in the Kingdom as per Vision 2030. Al-Meshari noted the importance of having a strategic partnership and increasing the number of trade which would eventually benefit the economies of the two countries.
The secretary-general assured the Japanese ambassador that recent developments in the Kingdom, following the announcement of Vision 2030, send a positive message to Japanese investors who will have limitless opportunities in various improved sectors, including energy, petrochemicals, water, technology, telecommunications, services, tourism, SMEs, mining, and tourism.
Japan is the second largest trade partner of the Kingdom, enjoying bilateral trade of $57 billion in 2013. 
Japan’s largest volume of oil comes from the Kingdom, while it exports a variety of products including automobiles and machinery to the Kingdom.