The Saudi-Japanese Business Council held here today its 11th meeting under co-chairmanship of by Abdurrahman Al Jeraisi, the Vice President of the Council of Saudi Chambers of Commerce and Japanese Ambassador to the Kingdom Shigeru Endo to discuss aspects of cooperation between the two countries. The meeting was also attended by high-level officials including Khalid Mohammed Al Qusaibi, the Minister of Economy and Planning; Japan's Senior Vice Minister of Economy, Trade and Industry Teruhiko Mashiko; Dr. Khalid Al Suleiman, The Under secretary of the Ministry of Trade and Economy for Industrial Affairs. The Saudi-Japanese economic relations have received special attention from the Council of Saudi Chambers of Commerce in line with the desire of the leaderships of the two countries and the aspirations of Saudi and Japanese Businessmen towards the utilization of the available partnership opportunities in various sectors. In an opening address, Al Jeraisi noted the unprecedented volume of trade exchange between the two countries, which amounted to $57 billion in 2008, making Japan the third major trading partner of Saudi Arabia. Saudi Arabia and Japan have shared strong trade and economic ties for over 50 years with a total investment in the Saudi-Japanese joint projects in the Kingdom totaling approximately $ 12 billion in 2008 making Japan the second major investment partner after the USA in Petrochemical and pharmaceuticals, Al Jeraisi added. --More
