Saudi Arabia’s King Salman arrives in Japan
King Salman, centre, arrives at Haneda International Airport in Tokyo. The Saudi king is on a month-long Asian tour
to advance Riyadh’s economic and business interests. Shizuo Kambayashi / AP Photo
TOKYO // King Salman and hundreds of business leaders from Saudi Arabia are in Japan for talks on Monday mainly expected to focus on economic ties.
The visit is the first by a Saudi king in 46 years, though King Salman visited more recently as crown prince.
Saudi Arabia is one of Japan’s biggest suppliers of crude oil, accounting for about a third of its total imports of oil from the Middle East.
The kingdom is striving to diversify its economy away from its heavy reliance on oil exports, and King Salman is on a month-long tour of Asia to advance his kingdom’s economic and business interests.
Yoshihide Suga, the Japanese chief cabinet secretary, said on Monday that Tokyo is willing to provide support for the economic power in the Middle East.
“We will discuss growth strategy, including our ‘Saudi Vision’ project,” he said, referring to Japanese collaboration with Vision 2030, a road map adopted by the kingdom last year for its development and economic objectives.
He did not confirm reports that the countries would agree to set up a special economic zone in Saudi Arabia.
King Salman met with Japanese foreign minister Fumio Kishida and was to meet the premier Shinzo Abe later on Monday.
Reports say Japan plans to urge that Saudi Aramco, the state-run oil company that is being partially privatised, seek a share listing on the Tokyo Stock Exchange.
Separately, Saudi Arabia’s sovereign wealth fund and Japanese telecoms provider and energy company Softbank have joined forces in setting up a US$25 billion (Dh92bn) private fund for technology investments.
Trade between the countries fell overall last year as oil prices dropped. Japan’s ¥2.1 trillion (Dh67.3bn) in imports from Saudi Arabia in 2016, mostly oil and gas, dwarfed its exports of ¥546.3bn.
The delegation arrived late on Sunday on about 10 aircraft. Officials said top hotels and car hire services would be busy handling the unusually large group during its four-day visit.
King Salman’s stop in Japan follows visits to Indonesia and Malaysia. He is due to travel on to Brunei, China and the Maldives.
Source:Associated Press
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Saudi Arabia’s King Salman arrives in Japan
King Salman, centre, arrives at Haneda International Airport in Tokyo. The Saudi king is on a month-long Asian tour
to advance Riyadh’s economic and business interests. Shizuo Kambayashi / AP Photo
TOKYO // King Salman and hundreds of business leaders from Saudi Arabia are in Japan for talks on Monday mainly expected to focus on economic ties.
The visit is the first by a Saudi king in 46 years, though King Salman visited more recently as crown prince.
Saudi Arabia is one of Japan’s biggest suppliers of crude oil, accounting for about a third of its total imports of oil from the Middle East.
The kingdom is striving to diversify its economy away from its heavy reliance on oil exports, and King Salman is on a month-long tour of Asia to advance his kingdom’s economic and business interests.
Yoshihide Suga, the Japanese chief cabinet secretary, said on Monday that Tokyo is willing to provide support for the economic power in the Middle East.
“We will discuss growth strategy, including our ‘Saudi Vision’ project,” he said, referring to Japanese collaboration with Vision 2030, a road map adopted by the kingdom last year for its development and economic objectives.
He did not confirm reports that the countries would agree to set up a special economic zone in Saudi Arabia.
King Salman met with Japanese foreign minister Fumio Kishida and was to meet the premier Shinzo Abe later on Monday.
Reports say Japan plans to urge that Saudi Aramco, the state-run oil company that is being partially privatised, seek a share listing on the Tokyo Stock Exchange.
Separately, Saudi Arabia’s sovereign wealth fund and Japanese telecoms provider and energy company Softbank have joined forces in setting up a US$25 billion (Dh92bn) private fund for technology investments.
Trade between the countries fell overall last year as oil prices dropped. Japan’s ¥2.1 trillion (Dh67.3bn) in imports from Saudi Arabia in 2016, mostly oil and gas, dwarfed its exports of ¥546.3bn.
The delegation arrived late on Sunday on about 10 aircraft. Officials said top hotels and car hire services would be busy handling the unusually large group during its four-day visit.
King Salman’s stop in Japan follows visits to Indonesia and Malaysia. He is due to travel on to Brunei, China and the Maldives.
Source:Associated Press