Saudi-Japanese Business Council Explore Strengthening Investment and Trade Relations

KSA, 14 January, 2025 : The Saudi-Japanese Joint Business Council convened in Riyadh on Sunday, attended by Saudi Minister of Investment Khalid Al-Falih and Japanese Minister of Economy, Trade and Industry Motoo Yuji, along with over 80 representatives from both nations.

Discussions focused on strengthening investment partnerships under the Saudi-Japanese Vision 2030, highlighting sectors like renewable energy, automotive, biotechnology, artificial intelligence, and electronic games. Minister Al-Falih emphasized the growing collaboration in non-traditional industries and Saudi Arabia's attractive investment incentives.

Japanese Minister Motoo Yuji stressed the critical role of private-sector participation in fostering trade and economic relations. Tariq Al-Qahtani, Chairman of the Saudi-Japanese Business Council, urged Japanese companies to leverage Saudi Arabia's incentives, aligning with Japan’s strengths in advanced industries and technology.

With Japan as Saudi Arabia's second-largest trading partner, bilateral trade reached $41.1 billion in 2023, with Saudi exports at $34.7 billion. The meeting underscored the strategic importance of the Saudi-Japanese Vision 2030 in advancing economic cooperation and mutual growth.