23 Hrs
Source:
الاقتصادية
Japan seeks Saudi Arabia trade deal
The article discusses the evolution of economic relations between Saudi Arabia and Japan, where the total trade exchange has reached approximately $41 billion. The partnership has shifted from a traditional focus on oil and technology to a more diverse model that includes clean energy, investment, advanced technologies, and space. Although reliance on oil as a primary energy source continues, the partnership now also emphasizes technical and economic aspects, with a focus on developing hydrogen, low-carbon fuels, carbon capture technologies, and renewable energy within the framework of the "Lighthouse" initiative launched in 2023. Japanese investments in the Saudi market have also increased, with around 118 Japanese companies operating in the Kingdom as of October 2024. Furthermore, 12 new memoranda of cooperation were signed in January 2026, indicating expanded collaboration in sectors such as industry, digital technologies, energy, and space. Projects aimed at transforming the energy sector, especially clean energy, are rapidly advancing, with a focus on cooperation in hydrogen, ammonia, and synthetic fuels. The goal is to build a sustainable relationship based on technology and knowledge, broaden investment bases, and improve supply chains through negotiations for a free trade agreement between the Gulf region and Japan. Aligned with ambitious economic objectives, the relationship is increasingly centered on shifting from dependence on oil toward supporting innovation and technology, with enhanced joint financing and investments. This development is guided by official visits and discussions focused on the future of cooperation across various sectors.
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