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“Saudi-Japan Vision 2030 2.0 Updated” Formulated

- Strategic partnership between Japan and Saudi Arabia further enriched -

October 24, 2019

On October 23, 2019, the Ministry of Economy, Trade and Industry (METI) held the Fourth Ministerial Meeting on “Saudi-Japan Vision 2030” with the participation of related ministers of Saudi Arabia, and both countries compiled the “Saudi-Japan Vision 2030 2.0 Updated.”

1. Fourth Ministerial Meeting on “Saudi-Japan Vision 2030”

Since the formulation of “Saudi-Japan Vision 2030” in 2017 as a new compass for strategic partnership between Japan and Saudi Arabia, many cooperation projects have been progressing in a wide range of fields. This meeting brought together Mr. Sugawara Isshu, Minister of Economy, Trade and Industry, and Mr. Suzuki Keisuke, State Minister for Foreign Affairs, from the Japanese side, and H.E. Mr. Mohammad Al Tuwaijri, Minister of Economy and Planning, and H.E. Dr. Majid Bin Abdullah Al Qasabi, Minister of Commerce and Investment, from the Saudi Arabian side. Both sides compiled discussion results concerning the progress in cooperation projects in a wide range of fields, such as entertainment, energy, and specific future actions into “Saudi-Japan Vision 2030 2.0 Updated”.

2. Meeting between METI Minister and related ministers of Saudi Arabia

Prior to the fourth ministerial meeting, METI Minister held a meeting with related ministers of Saudi Arabia. At the beginning of the meeting, he expressed his gratitude to Saudi Arabia for its stable oil supply to Japan. The two sides agreed that under “Saudi-Japan Vision 2030”, Japan and Saudi Arabia will facilitate “Enablers,” as measures for promoting businesses, including Vision Offices* and Special Economic Zones; pay further attention to the efforts for making individual projects more specific; and accelerate cooperation tailored to public demand in Saudi Arabia, e.g., entertainment and healthcare.

*Note: Vision Offices are service counters that the governments of Japan and Saudi Arabia established in each other’s countries respectively in order to promote cooperation projects under “Saudi-Japan Vision 2030”. Japan opened “Vision Office Riyadh” in January 2018, while Saudi Arabia is scheduled to open “Vision Office Tokyo” in the first quarter of 2020.

3. “Saudi-Japan Vision 2030” Business Forum

METI held a “Saudi-Japan Vision 2030” Business Forum, jointly with the Japan External Trade Organization (JETRO), the Japan Cooperation Center for the Middle East (JCCME) and the Saudi Arabian General Investment Authority (SAGIA). At the forum, participants held discussions on cooperation in new fields, e.g., entertainment and innovation.

In his speech, METI Minister explained the ongoing progress in Japan’s development of a framework for supporting companies in starting business in Saudi Arabia, such as opening of SAGIA Office in Tokyo by the end of 2019, and described that the Japan-Saudi relationship has continued to steadily increase in richness as seen in the progress in cooperation in the field of entertainment.

Moreover, at the forum, witnessed by METI Minister and the ministers of Saudi Arabia, an exchange ceremony for 13 memorandums of cooperation was held between Japanese organizations and Saudi Arabian organizations in a wide variety of fields, including promotion of exchange in the field of educational research and human resource development.

References

Division in Charge

Middle East and Africa Division, Trade Policy Bureau