Yasuyuki Murahashi, director general of JETRO's office in Riyadh, also emphasized the need to increase trade exchange between the two countries, now standing at SR136 billion.
"We have to activate the private sector's role in boosting joint investment and remove all obstacles facing mutual trade," the official said while meeting with Adnan Mandoura, secretary-general of the Jeddah Chamber of Commerce and Industry and Saudi businessmen.
Murahashi also emphasized the need to increase mutual visits by officials and businessmen and women of both countries to strengthen relations in various sectors.
"Japanese investors are ready to provide their expertise in various fields in order to build strong relations with Saudi businessmen. They also intend to invest in various economic sectors of the Kingdom," the Saudi Press Agency quoted Murahashi as saying.
He underscored the unprecedented economic development Saudi Arabia is currently witnessing under the leadership of Custodian of the Two Holy Mosques King Abdullah, especially the building of mega economic cities in Rabigh, Hail, Madinah and Jazan.
"We believe that Japanese companies can make great contributions toward implementing various development and infrastructure projects in the Kingdom," Murahashi said, while stressing Japan's desire to provide technical training to Saudi work force in various projects.
"We are also ready to establish more joint training institutes in the Kingdom and transfer Japanese technology required by various projects," he said.
On his part, Mandoura underscored the strong economic relations between Saudi Arabia and Japan, spanning over 50 years, and noted the role of the Saudi-Japan Business Council in enhancing these ties.
He agreed with Murahashi on the need to remove all obstacles that stand in the way of expanding trade relations. "Businessmen in both countries can play a big role in strengthening economic cooperation."
In a previous meeting with Saudi businessmen in Riyadh, JETRO officials had called on Saudi and Japanese companies to set up joint projects, especially small and medium enterprises (SMEs), which constitute about 80 percent of members registered with the Riyadh Chamber of Commerce and Industry (RCCI).
The SMEs, which can be viable business propositions at this hour of global financial recession, also represent 99.5 percent of over 4 million business companies and entities currently operating in Japan.
The SMEs sector should be the preferred area for cooperation at this time, said Takashi Mitsuka, vice secretary general of the Japan-Saudi Arabia Industrial Cooperation Task Force.
Asked about the possibilities of Japanese companies coming to Saudi Arabia at this time, Mitsuka said three Japanese companies, while defying the challenges of global recession, have already started working with their Saudi counterparts to set up joint ventures in the Kingdom. "These Japanese companies will transfer funds and innovative technology within a few months," he said. One such joint venture will be in the form of a training project called Saudi Electrical and Household Appliances Institute, he added.
