Japan's Abe, Saudi king see eye to eye on Vision 2030

Mar 15, 2017, 00:50
Japan's Abe, Saudi king see eye to eye on Vision 2030

Saudi Arabia will look at relaxing visa requirements for Japanese nationals, too.

It identified nine main areas of cooperation, including competitive industry, energy, health care and medicine, high-quality social infrastructure and investment and finance. After the meeting, the governments inked the cooperation deal, titled the Japan-Saudi Vision 2030.

Saudi King Salman's four-day visit to Japan from Sunday is stirring hopes for a special business boom in the host nation, with the royal visit seen accompanied by a total of 1,000-1,500 royal family members, government officials, business executives and others.

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

Retno added that in the next two months, the President would he send a minister to follow up King Salman's visit to Indonesia.

In his address, Saudi Ambassador Saud Al-Sati invited India to play a key role in the kingdom's economic transformation as it seeks to reduce its dependence on oil exports following a long period of decline in crude prices and emergence of new fuels by diversifying its sources of income and attracting foreign investment. Saudi Arabia and Japan maintain strong economic relations.

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A follow-up ministerial meeting is set for Tuesday, to lay out the details of the collaboration.

On Monday, the two governments inked memorandums on 11 projects to promote bilateral cooperation, while private-sector firms signed another 16 documents.

It is the first visit by a Saudi king to Japan since King Faisal's arrival in 1971.

Bilateral trade in 2015 was worth almost $40 billion, with India importing a fifth of its oil needs from Saudi Arabia.

Japan has launched a diplomatic offensive at the highest level in an attempt to lure Saudi Aramco to Tokyo for its $100 billion initial public offering.

"We are looking forward to the visit of the King of Saudi Arabia later this year", External Affairs Secretary (Economic Relations) Amar Sinha, said at an event organised by the Saudi petrochemicals giant SABIC.

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