King Salman Reviews Regional Developments with Japanese Officials

Camille Francis
March 15, 2017

The two countries go way back.

The Nikkei business daily also reported that Toyota Motor is looking at building a auto assembly plant in the Middle East country.

On the sidelines of the King's visit, the Saudi Stock Exchange "Tadawul" and the Japan Exchange Group, Inc.

Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud received at his residence in the Japanese capital Tokyo Governor of Tokyo Yuriko Koike.

Japan's Prime Minister Shinzo Abe asked Saudi Arabia's King Salman on Monday to support a listing of oil giant Aramco's shares in Tokyo, as financial centers in Asia and elsewhere step up efforts to win the coveted $100 billion listing.

Abe and King Salman agreed to beef up their countries' security cooperation, including the resumption of subcabinet-level talks, while defining the bilateral relationship as a strategic partnership. Saudi Arabia is Japan's largest supplier of crude oil.

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Tokyo, March 13 (Jiji Press)-The Japanese and Saudi Arabian governments announced Monday a cooperative initiative to promote the Persian Gulf state's structural reform to reduce its dependence on oil exports.

These will include spreading the use of renewable energy in Saudi Arabia and helping to develop the country's manufacturing sector.

The source did not have further details on the meeting between the billionaire entrepreneur investor and the king, who is on a state visit to Japan this week. He said Japan is a key partner and strategic ally of the Kingdom, adding that cooperation covers many areas, including small and medium enterprises (SMEs), young businessmen, knowledge exchange, technology transfer and localization, and training.

The Japanese and Saudi governments are planning to set up footholds in Tokyo and Riyadh to push forward relevant projects, such as the creation of a special economic zone to give Japanese firms preferential tax and regulatory treatments.

Groundwork for the strategy began last August when Mr Abe met Saudi Deputy Crown Prince Mohammed Salman in Tokyo.

Other reports by My Hot News

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