Japan External Trade Organization (JETRO) and Japan Co-operation Center for the Middle East (JCCME) recently organized a forum in Riyadh, hosted by Toshimitsu Motegi, Japan’s minister of economy, trade and industry.

Around 130 people of 40 Japanese companies and organizations in energy, infrastructure, medical and automotive sectors attended the Saudi Arabia-Japanese Business Forum.

Most of them followed the Minister Motegi’s second consecutive visit this Kingdom from last year, aiming strengthening the economic tie between the two countries.

From Saudi side, around 170 people from private and public sectors, including Abdulrahman Al-Zamil, chairman of the Council of Saudi Chambers, and a number of famous business executives attended.

Minister Motegi said in his opening address that the Saudi Arabia-Japan Industrial Cooperation Task Force’s activities have been the starting point of the new and strong strategic partnership.

Eight manufacturing projects which have been achieved as its result were also mentioned, including the investment for manufacturing plant of gas insulated switchgears.

The JV agreement for this project has been signed by WJCO (Member Company of E. A. Juffali Group) and Hitachi on the occasion.

In addition, Minister Motegi stressed that Japan is surely growing with drastic financial and fiscal policies of Prime Minister Abe’s government, and called for investment into Japan from Saudi side.

Al-Zamil highlighted the strengthening good relationship between the two countries as a “model”, and showed his expectation for further collaboration in the fields such as technology transfer or training as well as business itself.

Three sessions including partnership in energy sector, development of infrastructure and bilateral business relationships followed the opening speeches.

Three Saudi public organizations and nine Japanese companies made presentations regarding their past and current partnership between the two countries, and future business and collaboration opportunities in each field.

An MoU between Saudi National Entrepreneurship Institute (Riyadah) and SME Support Japan was also signed.