Sci-tech

Japan PM Abe seeks Saudi support for Aramco listing in Tokyo

Japan PM Abe seeks Saudi support for Aramco listing in Tokyo

The visit of King Salman to Japan and China will add momentum to trade and investment relations with the Kingdom, according to an expert.

Specifically, the two governments will launch preparatory researches for the envisaged economic zone and joint investment in the artificial intelligence and big data markets in the Middle Eastern country. The economic program, though, could pave the way for a new business relationship between the countries.

On the sidelines of the King's visit, the Saudi Stock Exchange "Tadawul" and the Japan Exchange Group, Inc.

"King Salman said that as two nations with open economy it will be easy for both countries to increase cooperation in economy", Retno said.

Shinzo Abe, the prime minister of Japan, asked King Salman of Saudi Arabia to support Tokyo's pitch to be Aramco's worldwide listing venue during a meeting in Japan.

The king is also scheduled Tuesday to meet Emperor Akihito for a luncheon at the Imperial Palace.


"We would like to more aggressively develop relations with Saudi Arabia, the cornerstone of stability in the Middle East", Abe stressed during the meeting.

Tokyo, March 13 (Jiji Press)-The Japanese and Saudi Arabian governments announced Monday a cooperative initiative to promote the Persian Gulf state's structural reform to reduce its dependence on oil exports.

As Japan has friendly ties with Iran, the Japanese government envisages strengthening ties with both Saudi Arabia and Iran.

The largest trip by a sitting Saudi King in over 50 years, the trip is a broad continuation of the Vision 2030 plan enacted to diversify the economy of the world's largest oil exporter.

A key thrust of the Vision 2030 strategy is the setting up of special deregulated economic zones in Saudi Arabia, featuring tax incentives, easier Customs procedures and relaxed visa rules, to woo Japanese companies and investors.

The entourage has made headlines around the world for its size and luxury, at least 25 princes, 10 ministers, 700 support staff and 500 tonnes of baggage are accompanying the king as he continues his journey through Asia.


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