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Saudi-Japan Vision 2030 Formulated

On March 13, 2017, Prime Minister Abe held a summit meeting with Custodian of the Two Holy Mosques King Salman Bin Abdulaziz Al-Saud, King of the Kingdom of Saudi Arabia. At the meeting, both sides decided “Saudi-Japan Vision 2030,”which is a compilation of the basic directions for bilateral cooperation and the specific projects therein. It was the outcome of discussion under the framework of the intergovernmental dialogue called “Joint Group for Saudi-Japan Vision 2030,” the formulation of which was decided on by H.R.H. Prince Mohammed bin Salman bin Abdulaziz Al Saud, Deputy Crown Prince of the Kingdom of Saudi Arabia and Prime Minister Abe in September 2016.

Following the summit meeting, under the presence of both heads of state, Mr. Hiroshige Seko, Minister of Economy, Trade and Industry, and H.E. Eng. Adel M. Fakeih, Minister of Economy and Planning, Saudi Arabia, including other officials, singed the Memorandum of Cooperation on the Implementation of Saudi-Japan Vision 2030. Moreover, prior to the summit meeting, Minister Seko held a meeting with Custodian of the Two Holy Mosques King Salman in the morning on the same date.

1. Background

  1. In September 2016, H.R.H Deputy Crown Prince Mohammed bin Salman, during his visit to Japan, and Prime Minister Abe decided the formulation of Saudi-Japan Vision 2030, containing the basic directions for bilateral cooperation and a list of the specific projects therein, and the establishment of the Joint Group for Saudi-Japan Vision 2030 as a new framework for formulating Vision 2030.
  2. In October 2016, the first meeting of the Joint Group for Saudi- Japan Vision 2030 was held. The meeting brought together 33 ministries, agencies and organizations in total from Japan and Saudi Arabia and established a system to comprehensively advance future cooperation between the countries. In addition, recognizing the importance of intensive discussion for concrete actions, they decided to establish subgroups by major subject  Trade and Investment Opportunities, Investment and Finance, Energy and Industry, SMEs and Capacity Building, and Culture and Sports  and to hold the second ministerial-level meeting in Tokyo at the appropriate timing in 2017.
  3. Since the first meetings, both sides held extensive and detailed subgroup-level discussions. Taking the opportunity presented by Custodian of the Two Holy Mosques King Salman’s visit to Japan, METI Minister Seko, Mr. Kentaro Sonoura, State Minister for Foreign Affairs, Minister Fakeih, and other officials signed the Memorandum of Cooperation on the Implementation of Saudi-Japan Vision 2030, based on the results of those discussions.

2. Outline of Saudi-Japan Vision 2030

  1. As a new compass for Japan-Saudi cooperation, Japan and Saudi Arabia will aim to leverage synergies of the Saudi Vision 2030, an economic and social blueprint of the government seeking to reduce its dependency on oil and create employment, and Japan’s Growth Strategy seeking to achieve an annual GDP of JPY 600 trillion per year.
  2. To maximize these synergies, both sides will develop comprehensive cooperation composed of three pillars: diversity, innovation, and soft values, which is unique to Japan.
  3. Both sides will set broad cooperation areas across nine themes as prioritized areas in the concrete partnership with participation of 41 Japanese and Saudi Arabian ministries, agencies and organizations.
  4. Both sides will also collaborate in enhancing “enablers” to facilitate business, e.g., revision of regulations and provision of incentives.
  5. Both sides will select and implement 31 Front Runner Projects.
  6. Both sides will establish a new subgroup for addressing overarching opportunities and challenges and discuss setting up dedicated industrial zones that showcase models of Saudi Arabian economic reform, so called “Enabler Showcase Zone.” Moreover, they will establish “Saudi-Japan Vision Offices” in Tokyo and Riyadh as bases for continuously following implementation of Vision 2030.

3. Meeting between Custodian of the Two Holy Mosques King Salman and Minister Seko

On the morning of March 13, Minister Seko held a meeting with Custodian of the Two Holy Mosques King Salman, taking opportunity of his visit to Japan. At the meeting, Minister Seko stated Japan’s policy that Japan will advance Japan-Saudi cooperation through joint efforts of the public and private sector under the framework of the All-Japan initiatives, and expressed Japan’s intention to steadily implement Saudi-Japan Vision 2030, a new compass for Japan-Saudi partnership to be decided at a later summit meeting. Furthermore, Minister Seko also expressed Japan’s strong will not only to expand the existing bilateral relationship centered on oil and petrochemical sector but also to develop the relationship toward the comprehensive and strategic relationship through implementation of Saudi-Japan Vision 2030.

Appendices

Release date

March 13, 2017

Division in Charge

Middle East and Africa Division, Trade Policy Bureau

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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