Saudi Arabia and Japan Boost Trade: $47.5B in 2022, 30 Agreements Signed
Saudi Arabian and Japanese officials met in Riyadh on Wednesday to discuss increasing trade between their countries.
Farid bin Saeed Al-Asali of the Saudi General Authority of Foreign Trade and Kazutaka Kawahara of the Japanese embassy held talks on international goals, including under the World Trade Organization.
Over 30 agreements and memorandums of understanding were signed at a Saudi-Japanese Business Forum in the areas of energy, manufacturing, and finance.
Over 100 Japanese companies are active in Saudi Arabia, primarily in sectors such as renewable energy, water, mining, and entertainment.
In 2022, the trade volume between the two countries reached $47.5 billion, with a surplus of $34.1 billion for Saudi Arabia.
The majority of Saudi Arabia's exports to Japan, valued at $40.8 billion, were oil-related, while Japan imported $6.7 billion worth of goods.
(Source: Arab News Japan)
Over 30 agreements and memorandums of understanding were signed at a Saudi-Japanese Business Forum in the areas of energy, manufacturing, and finance.
Over 100 Japanese companies are active in Saudi Arabia, primarily in sectors such as renewable energy, water, mining, and entertainment.
In 2022, the trade volume between the two countries reached $47.5 billion, with a surplus of $34.1 billion for Saudi Arabia.
The majority of Saudi Arabia's exports to Japan, valued at $40.8 billion, were oil-related, while Japan imported $6.7 billion worth of goods.
(Source: Arab News Japan)
Translation:
Translated by AI
