https://arab.news/b8vgs
- More than 100 Japanese companies operate in the Kingdom across several sectors
DUBAI: Officials from Saudi Arabia and Japan held talks on boosting trade in Riyadh on Wednesday.
Farid bin Saeed Al-Asali, deputy governor of the Saudi General Authority of Foreign Trade, met with Kazutaka Kawahara, deputy head of mission at the Embassy of Japan in the Kingdom.
The two officials also had talks on goals internationally, particularly under the World Trade Organization.
The Kingdom and Japan signed recently at the Saudi-Japanese Business Forum more than 30 agreements and memorandums of understanding in energy, manufacturing and finance.
More than 100 Japanese companies operate in the Kingdom across several sectors including renewable energy, water, mining and entertainment.
In 2022, trade between the two countries amounted to $47.5 billion, with a surplus of $34.1 billion in favor of the Kingdom. Saudi Arabia’s exports to Japan reached $40.8 billion, with oil making up $39.8 billion. The Kingdom imported $6.7 billion worth of goods from Japan in 2022.