2023-07-15 09:44:55
Nikkei newspaper reported that Japan and Saudi Arabia are expected to agree on joint investments to develop rare earth mineral resources during Prime Minister Fumio Kishida’s visit to the Middle East, which begins on Sunday and continues until Tuesday.
Kishida plans to visit oil-producing Saudi Arabia and the United Arab Emirates, as well as LNG-producing Qatar, which are major energy suppliers to resource-starved Japan.
Rare earth resources are essential to decarbonization and the production of electric cars in particular, as Japan aims to be carbon-neutral by 2050 and Saudi Arabia is trying hard to diversify its economy away from oil.
The Nikkei newspaper said today, Saturday, that Kishida is scheduled to agree with Saudi Crown Prince Mohammed bin Salman to cooperate in rare earth resources tomorrow, Sunday, to explore joint development projects in other countries.
The newspaper added that Japan will also help accelerate the development of resources currently being mined in Saudi Arabia, namely copper, iron and zinc.
A senior official in the Japanese Foreign Ministry told reporters a few days ago that Kishida intends to discuss energy markets during his upcoming visit to the Gulf states, while also aiming to introduce Japanese technologies in order to achieve the goal of reaching zero carbon emissions.
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