BOTH SIDES WELCOMED THE ONGOING NEGOTIATIONS TO CONCLUDE THE FREE TRADE AGREEMENT (FTA) BETWEEN JAPAN AND GULF COOPERATION COUNCIL (GCC). BOTH SIDES SHARED THE VIEW THAT EARLY CONCLUSION OF THIS AGREEMENT WILL FURTHER ENHANCE THE ECONOMIC RELATIONS BETWEEN THE TWO PARTIES. 4- BOTH SIDES SHARED THE VIEW ON THE IMPORTANCE OF STRENGTHENING AND ENHANCING THEIR COOPERATION IN THE FIELDS OF ECONOMY, INVESTMENT, AVIATION, ENVIRONMENT, CULTURE, EDUCATION, SCIENCE AND YOUTH AND SPORTS, TO ENHANCE THEIR PARTNERSHIP. TO THIS END, BOTH SIDES WELCOMED THE CONCLUSION OF THE DRAFT AGREEMENT ON THE AIR SERVICES IN FEBRUARY 2007. BOTH SIDES EMPHASIZED THE IMPORTANCE OF THE EARLY CONCLUSION OF THE NEGOTIATIONS REGARDING THE AGREEMENT FOR LIBERALIZATION , PROMOTION AND PROTECTION OF INVESTMENTS BETWEEN THE TWO COUNTRIES. BOTH SIDES DECIDED TO FACILITATE SUPPORT AND ENCOURAGE THE STUDYING OF SAUDI STUDENTS IN THE UNIVERSITIES AND TECHNICAL INSTITUTES IN JAPAN AND THE JAPANESE SIDE WELCOMED THE TREMENDOUS INCREASE OF THESE SAUDI STUDENTS . 5- BOTH SIDES REAFFIRMED THE IMPORTANCE OF THE STABILITY OF THE WORLD OIL MARKET. THE JAPANESE SIDE EXPRESSED ITS APPRECIATION AND UNDERSTANDING FOR THE SAUDI ARABIA'S BALANCED OIL POLICY, WHICH IS A SECURE AND RELIABLE SOURCE FOR PROVIDING OIL SUPPLIES TO THE INTERNATIONAL MARKETS IN GENERAL, AND TO THE JAPANESE MARKET IN PARTICULAR. IN THIS REGARD, BOTH SIDES PRAISED THE SECOND ASIAN MINISTERIAL ENERGY ROUNDTABLE MEETING FOR MINISTERS OF OIL, ENERGY AND TRANSPORTATION WHICH WILL BE HELD IN RIYADH FROM 14-16/4/1428 H. CORRESPONDING TO 1-3 MAY 2007, JOINTLY HOSTED BY SAUDI ARABIA AND JAPAN, WHILE STRESSING THE SIGNIFICANCE TO FURTHER PROMOTE BILATERAL COOPERATION IN ENERGY, BASED UPON MUTUALLY COMPLEMENTARY RELATIONSHIP BETWEEN SAUDI ARABIA, WITH ITS LARGEST HYDROCARBON RESOURCE IN THE WORLD, AND JAPAN, WITH ITS ADVANCED ENERGY-RELATED TECHNOLOGIES. THE SAUDI SIDE EXPRESSED ITS INTENTION TO CONTINUE TO ASSURE STABLE OIL SUPPLY TO JAPAN, AND THE JAPANESE SIDE EXPRESSED ITS APPRECIATION FOR THIS. --MORE
