The Saudi-Japanese Mutual Vision Confirms the Importance of Developing Cooperation and Creating Qualitative Partnerships
The Ministry of Commerce and Investment has revealed that the development of trade exchange between Saudi Arabia and Japan has increased by 19% in 2018, compared to 2017. The volume of trade exchange between the two friendly countries reached more than 38 billion dollars.
The Saudi exports topped the volume of trade exchange between the two countries, amounting to 33 billion dollars, compared to 5 billion dollars, which is the total value of Saudi imports from Japan.
Metal products topped the list of goods exported to Japan, in addition to aluminum and its products, inorganic chemical products, artifacts and antiques, copper and its products, while automobiles, machinery, iron, steel, rubber, electrical appliances and equipments are the main goods imported during the past year from Japan.
Japan has been ranked third in the volume of trade exchange with Saudi Arabia, while the number of Japanese direct foreign investment projects in Saudi Arabia amounted to 130.
For its part, Saudi Arabia affirms the importance of developing the trade and investment exchange by enabling the access of Saudi non-oil exports, related to goods and services, and having diversification in such services and goods. This is to achieve the aspirations of the leadership of the two friendly countries, in light of the mutual concern and interest to develop and promote the joint trade and investment cooperation, besides creating qualitative partnerships to enhance capabilities and to nationalize specialized industries, in accordance with the Saudi-Japanese Vision 2030.