2023-07-17 18:15:17
The visit of the Prime Minister of Japan to Saudi Arabia has begun. Prime Minister of Japan Fumio Kishidaka was given a warm welcome by Saudi Crown Prince Mohammed bin Salman.
After that, the Japanese Prime Minister, Saudi Investment Minister Engineer Khalid Alfalih and Japanese government representatives discussed various issues in the meeting. More than twenty five agreements and memorandums of understanding were signed during the discussion. The two countries also reached an agreement on clean energy cooperation.
Also, 44 leading Japanese company heads participated and signed 26 MoUs. Japan is Saudi Arabia’s third largest trading partner. Japan accounts for 7 percent of total direct investment in Saudi Arabia.
Most of Japan’s direct investment of 4,900 crore riyals is in the construction sector. Bilateral trade with Japan rose to Rs 17,800 crore last year. There was an increase of 42.1 percent compared to last year. The Prime Minister also said that Japan wants to work with Saudi Arabia to make the Middle East a global hub for supply chains in the mining and mineral sectors.
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