“I did have the privilege of a very exciting life here with the cooperation of Mohammed Ahmed Tayyeb, director general of the Ministry of Foreign Affairs’ Makkah Office, and I appreciate it very much,” Ishigure told Arab News on Saturday. “The relations have been friendly and growing stronger than ever, and we have seen a number of positive developments, especially in the field of trade and investment,” he said.

The volume of exports from Saudi Arabia to Japan in 2009 reached $29.2 billion, with Japan ranking first importer from Saudi Arabia. The Kingdom’s imports from Japan mounted to $5.4 billion with Japan ranking third exporter to Saudi Arabia. “This indicates that Japan maintained its status as one of the top leading trade partners of the Kingdom last year,” he said.

As for investment, one of the most recent and notable developments has been the conclusion of the convention for the avoidance of double taxation and the prevention of tax evasion between the two governments in Tokyo last month, which will further facilitate the mutual investment activities by the companies of both countries.

“Besides, significant Japanese high profile investments in Saudi Arabia have taken place in recent years and I am convinced that Japan will maintain its position as one of the largest foreign investors in the Kingdom this year as well,” he said.

In this regard, the most remarkable development has been the accomplishment of the PetroRabigh Refining & Petrochemicals Project, the largest of its kind in the world, jointly undertaken by Sumitomo Chemical and Saudi Aramco with a total investment of $9.8 billion. This giant project is expected to work as a driving force of the Kingdom’s export-oriented economy. Moreover, the industrial estate, which has been set up adjacent to the PetroRabigh Project site, is now ready for the construction of factories for over 20 companies. They are expected not only to manufacture petrochemical related products for the domestic and international markets but also to provide job opportunities for Saudi people. The achievements of the Saudi-Japanese Industrial Task Force, which was established in 2007 for increasing Japanese investments in Saudi Arabia, are evident at the industrial estate as well as in other parts of the Kingdom.

Human resource development and education have also been important fields of cooperation between the two countries. This is represented by the Saudi Japan High Automobile Institute (SJAHI) in Jeddah, and the Higher Institute for Plastic Fabrication and the Saudi Electronics and Home Appliances Institute in Riyadh. “These institutes, together with the tireless endeavors by Japanese experts and financial support, have been playing a significant role in the development of human resources in the Kingdom,” he said.