During the meeting, the Japanese minister presented a document on upgrading the policies governing small and medium enterprises (SMEs) in the Kingdom. The two ministers discussed ways of further enhancing bilateral cooperation, especially in the field of developing human resources of firms that support SMEs.

Japan will also extend cooperation to improve capabilities, provide training and formulate a national program to take care of SMEs and enhance their competitiveness.

Meanwhile, a workshop to discuss the salient features of the document as well as its major recommendations will be held at the Chamber of Commerce and Industry in Riyadh on Monday, according to a press statement issued by the Ministry of Commerce and Industry. The document also puts forward proposals to enhance the competitiveness of SMEs. A Japanese research team, in cooperation with its Saudi counterpart, has prepared the document after carrying out comprehensive and elaborate studies about the general situation of SMEs in the Kingdom. The Japanese team, headed by Shigeru Matsushima, a professor at Tokyo University of Science, has visited Saudi Arabia at least three times since October 2008 to conduct massive field studies and research, the statement added.

The team carried out elaborate surveys, field studies and extensive visits to several concerned departments and agencies. Workshops were also held in Riyadh, Jeddah, Dammam and Qassim in this regard.

Saudi Arabia, in its drive to enhance the competitiveness of SMEs, chose Japan as a role model in view of its vast expertise and experience in the field.

The SMEs, which can be viable business propositions, represent more than 99 percent of over four million business companies and entities currently operating in Japan. They also make up about 70 percent of the work force in the second largest economy in the world.

Japan has also been successfully following its policy of supporting SMEs for more than 100 years.