23 Hrs
Source:
الاقتصادية
Japan considers Saudi trade partnership
The economic relations between Saudi Arabia and Japan have gradually shifted from primarily relying on oil and technology to a more diversified model that includes clean energy, investment, industry, space, and advanced technologies. Bilateral trade has reached approximately $41 billion, with Japanese direct investment in Saudi Arabia totaling 49 billion riyals. It is expected that the visit of the Japanese foreign minister will strengthen cooperation in areas such as artificial intelligence and clean energy. Energy remains the backbone of the relationship, as Japan continues to depend on Saudi oil as a strategic resource. Cooperation has expanded to include hydrogen, ammonia, and carbon capture technologies under the "Lighthouse" clean energy initiative. Japanese investment is also growing, with more Japanese companies entering the Saudi market and the signing of 12 new memoranda of cooperation across various sectors. Additionally, negotiations are underway to expand the free trade agreement to enhance supply chains and strengthen the comprehensive economic partnership between the two countries.
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