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METI Minister Seko Visits the Kingdom of Saudi Arabia and the United Arab Emirates

On January 14(Sun.)and 15(Mon.), 2018, Mr. Hiroshige Seko, Minister of Economy, Trade and Industry, visited Riyadh, the Kingdom of Saudi Arabia, and Abu Dhabi, the United Arab Emirates(UAE).

In Riyadh, he held a meeting with Custodian of the Two Holy Mosques King Salman Bin Abdulaziz Al-Saud, King of the Kingdom of Saudi Arabia, and related ministers, and also attended the Saudi-Japan Vision 2030 Business Forum.

In Abu Dhabi, he exchanged views with H.H. General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, government dignitaries and other officials. Moreover, he participated in the World Future Energy Summit 2018(WFES 2018), and attended a signing ceremony concluding a facility agreement between the Japan Bank for International Cooperation(JBIC)and the Abu Dhabi National Oil Company(ADNOC).

1. The Kingdom of Saudi Arabia(January 14)

(1)Meetings with government dignitaries to promote cooperation under the Saudi-Japan Vision 2030

Japan and Saudi Arabia have been advancing cooperation under the Saudi-Japan Vision 2030 concluded during King Salman's visit to Japan in March 2017, which acts as a compass for our strategic partnership. Minister Seko confirmed the steady progress in the cooperation during his courtesy call on King Salman and bilateral meetings with major economic ministers. At each meeting, both sides agreed that Japan and Saudi Arabia will further expand, enrich and accelerate the cooperation.

At the meeting with King Salman, Minister Seko explained that Japan will not change its earnest intention to support the country in the economic and social system reform that Saudi Arabia is advancing, and both sides shared the recognition that cooperation under the Saudi-Japan Vision 2030 is significant and strategic.

At the meeting with H.E. Mr. Khalid A. Al-Falih, Minister of Energy, Industry and Mineral Resources, who is taking initiative in advancing Japan-Saudi cooperation, both sides discussed the progress made in the past efforts, and based on the progress, both sides agreed that the two countries will continue collaboration through further accelerating momentum and that they will coordinate schedules to hold the next ministerial-level meeting of the Joint Group for Saudi- Japan Vision 2030 in Japan as early as possible. Moreover, both sides discussed cooperation on diversification of industries and energy.

At the meeting with H.E. Dr. Majid Bin Abdullah Al Qasabi, Minister of Commerce and Investment, Minister Seko expressed his gratitude for the successful completion of the Saudi-Japan Vision 2030 Business Forum. Following this, both sides agreed on the advancement of cooperation concerning support measures in the field of SMEs, an area on which Saudi Arabia places emphasis.

(2)Attending the Saudi-Japan Vision 2030 Business Forum

Minister Seko attended the Saudi-Japan Vision 2030 Business Forum held on the same date, organized by the Saudi Arabian General Investment Authority(SAGIA), the Japan External Trade Organization(JETRO)and the Japan Cooperation Center for the Middle East(JCCME). The forum was a great success, attended by 67 Japanese companies and 130 Saudi Arabian companies. It consisted of an opening ceremony for celebrating the inauguration of the Saudi-Japan Vision Office in Riyadh, where experts will work to promote business between the two countries, an exchange ceremony for six documents of cooperation between companies in Japan and Saudi Arabia, and the granting of three licenses to Japanese companies for developing business in Saudi Arabia.


Paying a courtesy call on King Salman

Meeting with Minister Al-Falih
 

Delivering a speech at the business forum

Group photo at the business forum
 

2. The UAE(January 15)

(1)Attending the World Future Energy Summit 2018(WFES 2018)

Minister Seko participated in the WFES 2018 and exchanged views with Crown Prince Mohammed, H.E. Sultan Ahmed Al Jaber, Chief Executive Officer of the Abu Dhabi National Oil Company(ADNOC)and the Minister of State, and other government dignitaries in the UAE. Through this, he encouraged Abu Dhabi to allow Japanese companies to continue to possess oil concessions concerning offshore oilfields in Abu Dhabi, which will expire in March 2018. As seen in Crown Prince Mohammed bin Zayed Al Nahyan's expression of his understanding of and particular gratitude for Japan's efforts and future cooperation, Japan received positive responses from Abu Dhabi.

Following this, Minister Seko toured the Japan Pavilion at the site, in which Japan exhibited cutting-edge technologies, including hydrogen producing technologies, robotics using myoelectric analyses and resource search efforts in space, as well as Japanese companies' products related to renewable energy.

(2)Attending a signing ceremony for concluding a facility agreement between JBIC and ADNOC

Minister Seko and ADNOC CEO Jaber witnessed a signing ceremony concluding a facility agreement between JBIC and ADNOC that was held at the site of the WFES. Under the agreement, JBIC will provide necessary funds to ADNOC to secure Japanese companies to import crude oil in a steady manner. This is the fifth funding of JBIC to ADNOC to secure Japan's long-term, steady access to crude oil.


Attending the opening ceremony of the WFES(source: Emirates News Agency)
 

Touring the Japan Pavilion at the WFES

Signing ceremony concluding a facility agreement
between JBIC and ADNOC
 

Appendix

Release date

January 16, 2018

Divisions in Charge

Information on the Kingdom of Saudi Arabia
Middle East and Africa Division, Trade Policy Bureau
Information on the United Arab Emirates
Petroleum and Natural Gas Division, Natural Resources and Fuel Department, Agency for Natural Resources and Energy
Ministry of Economy, Trade and Industry1-3-1 Kasumigaseki, Chiyoda-ku, Tokyo 100-8901, Japan Tel: +81-(0)3-3501-1511
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