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Japan's Abe seeks Saudi support for Aramco listing in Tokyo

Japan's Abe seeks Saudi support for Aramco listing in Tokyo

In the document, titled "Japan-Saudi Vision 2030", the Japanese and Saudi governments agreed to work together on a total of 43 projects, 31 of which will be designated as pilot projects.

It identified nine main areas of cooperation, including competitive industry, energy, health care and medicine, high-quality social infrastructure and investment and finance.

King Salman said that the kingdom would look into the request because he wants Japanese investors to buy Aramco shares, the official said after the two leaders met. The two governments will also explore setting up special economic zones in Saudi Arabia, with tax breaks and looser regulations that could benefit Japanese companies.

Shaken by the downturn in global oil prices, the kingdom is determined to build a new economic structure with numerous pillars - manufacturing, public investment, tourism and education among them.

"Japan on the other hand is aiming to boost exports, investments and tourists in particular by exploring new growth markets beyond its domestic and neighboring countries", the statement continued.




Groundwork for the strategy began last August when Mr Abe met Saudi Deputy Crown Prince Mohammed Salman in Tokyo. This was followed by the countries' first ministerial meeting in Riyadh in October.

Suga described Salman's visit - the first to Japan by a Saudi Arabian king in 46 years - as "historic".

"We are looking forward to the visit of the King of Saudi Arabia later this year", External Affairs Secretary (Economic Relations) Amar Sinha, said at an event organised by the Saudi petrochemicals giant SABIC. The number of Saudi-Japanese joint ventures in the Kingdom reached 83 projects, including 24 industrial and 59 non-industrial plans.

The Saudi monarch arrived in Japan on Sunday after a visit to Malaysia and Indonesia that included a holiday stay in Bali. After leaving Tokyo, the king is to lead his entourage of more than 1,000 cabinet members and corporate executives on to China.

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