Japan imports 40% of its oil from Saudi Arabia: Japan’s Economy Minister

Nishimura Yasutoshi, Japan’s Minister of Economy, said that Saudi Arabia is invaluable to Japan, noting that his country imports 40% of its crude oil from the Kingdom.


The Japanese minister added that relations between the two countries depend on mutual trust, explaining that they have moved to elevated levels.

This was in press statements, on the sidelines of the Saudi-Japanese Investment Forum in Riyadh, on Monday.

The minister stated that the Saudi-Japanese Forum discussed several sectors such as clean energy, artificial intelligence, and bio-manufacturing.

He pointed out that cooperation with the Kingdom will move to advanced stages, not only in crude oil trade but also in green energy, bio-manufacturing, smart cities, and many other sectors.

He stated that it was agreed on the need for cooperation between the two countries during his meeting with Energy Minister Prince Abdulaziz bin Salman. This is because the Kingdom occupies a high position in the oil market.

He pointed out that Japan, as chair of G7 sees the importance of boosting investments. Japan will work to cooperate and coordinate with the Kingdom as a member of the G20.

The Ministry of Investment organized the Saudi-Japanese Investment Forum, in which 15 investment memorandums of understanding were exchanged between the two sides.

Among the areas discussed at the forum were artificial intelligence, sports, finance, banking services, polyester recycling, agriculture, food, industry, and others.

According to the Ministry of Energy, the Japanese company Chitose and Aramco signed a memorandum of understanding to collaborate on developing technology for the treatment and removal of pollutants.

With this contract, Japan supports the Kingdom’s efforts to activate the circular carbon economy approach.

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