JEDDAH, 9 June 2005 — The 50-year-relationship between Saudi Arabia and Japan is solid, says Japanese Prime Minister Junichiro Koizumi. He commended Saudi Arabia’s role in stabilizing the international oil market and in preserving peace and stability in the Middle East.

In a statement marking 50 years of relations between the two countries, Koizumi also noted Saudi Arabia’s central role in the Gulf Cooperation Council. “Being the cradle of Islam, Saudi Arabia also has a powerful influence on the Islamic world as a whole,” he added.

Koizumi underscored the strong economic relations between the two countries. “Japan cooperates with Saudi Arabia by investing in its giant petrochemical projects,” he pointed out. “We look far ahead into the future where our excellent relations are even more essential to international society,” the prime minister said.

Yesterday Koizumi received Saudi Ambassador to Tokyo Faisal ibn Hassan Trad and emphasized the need to strengthen cultural and social cooperation between the two countries. The prime minister expressed his happiness at the celebrations marking 50 years of relations.

“I have instructed the minister of economy, industry and commerce to further strengthen these relations through the Saudi-Japanese Joint Commission, which is to meet shortly,” Koizumi told the ambassador.

In his statement on the occasion, Ambassador Trad said Saudi-Japanese ties represented a model for relations between friends and they were established out of mutual respect and a realization of common interests.

“The bulk of commercial exchanges between the Kingdom and Japan reflects the major role which the economic sector plays in promoting bilateral relations,” he said. The past few years have witnessed a great jump in the size of Japanese investments in Saudi Arabia, particularly in industrial projects. He referred to the agreement of partnership between Saudi Aramco and Sumitomo Chemicals on the Rabigh Project which is worth $4.3 billion. Saudi Aramco has acquired a 14.95 percent share of Japan’s Showa Shell Company, he added.

Saudi Arabia and Japan established diplomatic relations in 1955. The arrival in Japan of Saudi Defense and Aviation Minister Prince Sultan in 1960 marked the beginning of bilateral visits by dignitaries of both nations and in 1971, King Faisal visited Japan.

Saudi Arabia is one of the most important suppliers of crude oil to Japan, and Japan has become Saudi Arabia’s main partner in its export trade, Trad said.

Looking at recent developments, former Prime Minister Ryutaro Hashimoto called for “Comprehensive Partnership Toward the 21st Century” when he visited Saudi Arabia in 1997. In 1998 Crown Prince Abdullah and the Japanese Prime Minister Keizo Obuchi witnessed the signing of the “Japan-Saudi Arabia Cooperation Agenda.”

The number of Japanese nationals living in Saudi Arabia is estimated at 560 while 150 Saudis live in Japan. Saudi exports to Japan, estimated at SR49.325 billion ($13.15 billion), include crude oil, petroleum products and LPG while the Kingdom imports from Japan automobiles, machinery and equipment and metals worth SR14.32 billion ($3.8 billion), the ambassador said.

Meanwhile, Japan’s Crown Prince Naruhito visited the Saudi Arabian Pavilion at Expo 2005 yesterday in the Japanese province of Aichi. The royal visit reflected the strong relations between the two countries.

Ambassador Trad welcomed the Japanese crown prince and briefed him about its various displays, which included the cover of the Holy Ka’aba, picture of the Masmak Palace, a model of Bedouin tent, architectural designs from different Saudi regions and samples of crude oil.