RIYADH, 19 July — Prince Sultan, second deputy premier and minister of defense and aviation, will visit Tokyo later this year in response to an invitation from the Japanese government. The two sides are working to finalize a mutually convenient date for the visit tentatively in September.
Japanese Ambassador Shotaro Oshima said the visit by Prince Sultan would further strengthen relations between the two countries. He said Japanese Foreign Minister Kono Yohei visited Saudi Arabia in March this year followed by Minister of Economy and Industry Hiranuma early this month.
On the progressively growing bilateral relations, Oshima said the Kingdom and Japan were discussing two new joint projects in the management of water resources and recycling. He did not divulge details of the projects.
Japan’s Petroleum Energy Center is currently working with King Fahd University of Petroleum and Minerals and King Abdul Aziz City for Science and Technology on some water and oil projects.
The ambassador said the two projects would further boost Japanese investment in Saudi Arabia, where it has already invested $2.3 billion in 37 joint venture projects. Japan has emerged to be the second largest investor in the country after the United States.
He said Japan’s Denso Corporation, an affiliate of Toyota, had signed a 50-50 agreement with Abdul Latif Jameel Co. to set up a manufacturing facility in Jeddah for car air-conditioners. The Denso Abdul Latif Jameel Co. will begin production in October with an expected output of 20,000 units annually.
Oshima said the two sides had already announced plans to set up an automobile training center, the first of its kind in the region.
The Saudi-Japanese Automobile High Institute will cost SR80 million. The institute will start enrolment later next year. The private sectors of the two countries would provide scholarships to its students. The move is significant considering the fact that the total import of Japanese cars and parts to the Kingdom amounts to $1.4 billion annually. This represents a 46 percent share of the local market.
The diplomat said the Saudi-Japanese Joint Economic Commission would meet early next year. He said Japan’s Arabian Oil Company had been seeking resumption of a role in the Kingdom’s oil sector.
