Arab News, Thu, Jun 06, 2024 | Dhu al-Qadah 29, 1445
Saudi, Japan officials discuss international trade goals
Saudi Arabia:
Officials from Saudi Arabia and Japan held talks on boosting trade in Riyadh on
Wednesday.
Farid bin Saeed Al-Asali, deputy governor of the
Saudi General Authority of Foreign Trade, met with Kazutaka Kawahara, deputy
head of mission at the Embassy of Japan in the Kingdom.
The two officials also had talks on goals
internationally, particularly under the World Trade Organization.
The Kingdom and Japan signed recently at the
Saudi-Japanese Business Forum more than 30 agreements and memorandums of
understanding in energy, manufacturing and finance.
More than 100 Japanese companies operate in the
Kingdom across several sectors including renewable energy, water, mining and
entertainment.
In 2022, trade between the two countries amounted
to $47.5 billion, with a surplus of $34.1 billion in favor of the Kingdom. Saudi
Arabia’s exports to Japan reached $40.8 billion, with oil making up $39.8
billion. The Kingdom imported $6.7 billion worth of goods from Japan in 2022.