Saudia-Online the Net Gate to Saudi Arabia Market
Saudi Arabia Business News
Business Opportunities
Business Guide
Companies Directory
Corporate Websites
Currency Exchange
Saudi Arabia Events
Local News
Saudi Stocks
Monthly Economic Reports
Saudi Arabia Travel
Saudi Arabia Weather
Submit Press Release
Read Press Releases

Free Websites
 for Saudi companies and Establishment


for Foreign companies 
interested in exporting
to Saudi Arabia

Community Sign Up

Message Boards
Should women be in the army?

About Saudi Arabia
About us

Arabic cuisine
Arabic newspapers

Arabic radio and TV

Free downloads

Saudi Arabia ISP's

Science and Technology

Send us feedback


Traveling to Saudi Arabia

Phone Free

Top Saudi Arabia Business News


Japan seeks greater oil sector role
Riyadh , 20th August 2001

 Saudi and Japanese officials held wide-ranging talks here yesterday on how to forge closer cooperation in the oil and petrochemical sector, especially relevant at a time when Japan is experiencing energy shortages. The talks were intended to ensure some sort of role for Japan in the Kingdom’s oil sector following the loss of Arabian Oil Company’s (AOC) drilling concession in Al-Khafji.

Norota, who is also chairman of Japan’s permanent budget committee, later met with Custodian of the Two Holy Mosques King Fahd and Crown Prince Abdullah, deputy premier and commander of the National Guard, in Jeddah.

Both meetings were attended by senior Saudi officials. The king and the crown prince also received the outgoing Japanese Ambassador Shotaro Oshima.

The talks at the Ministry of Petroleum and Mineral Resources were attended by Osama ibn Muhammad Hassan, chief auditor, and Saeed Al-Ghamdi, director general at the ministry. The Japanese side at the talks was led by a senior member of the House of Representative Yoshinari Norota, who is currently visiting Riyadh at the head of a 14-member parliamentary delegation.

Norota and his accompanying delegation also paid a visit to the Shoura Council, where they met with Shoura Vice President Bakri Saleh Shata and exchanged views on a range of bilateral, regional and international issues. Speaking about the visit of Japanese parliamentarians, Shata said that the two sides will work to boost bilateral cooperation in different sectors.

Norota, on his part, urged the Shoura officials to promote the joint interests of the two countries. He reiterated that the objective of the visit by the delegation was mainly to acquaint themselves with the current economic situation of the Kingdom and to explore possibilities of cooperation in oil and petrochemical sector. Tokyo has been seeking some kind of role in the Kingdom’s oil sector for some time.

Japan imported 0.93 million bpd of oil from Saudi Arabia in 1999. The Kingdom, in fact, has emerged to be the second largest oil supplier to Tokyo, which also imported substantial quantity of Saudi refined products (mainly naphtha). Saudi Arabia has also emerged to be the main supplier of refined products with its total supplies constituting 11.7 percent of the total refined products imported by Japan during the same period.

On the commercial front, Japan ranks as the second largest trading partner of the Kingdom after the US, with two-way trade exceeding SR56 billion annually.

On the regional level, the GCC-Japan trade totaled SR120 billion last year. And the total Japanese investment in Saudi Arabia presently exceeds SR21.7 billion.

Tokyo, in a renewed move to boost investment, has proposed to set up a special desk at the Saudi Arabian General Investment Authority to encourage Japanese businessmen to invest in the Kingdom. This announcement was made during the visit of a Japanese delegation organized by the Japan Cooperation Center for the Middle East (JCCME) last month.

A number of Saudi and Japanese companies are currently working on proposals to set up joint-projects in the industrial sector. Two business houses, one from Japan and another from the Kingdom, have recently set up a SR184 million textile factory in Al-Ahsa Industrial City to produce thoubs and abayas (Saudi dresses). This is in addition to three other joint-venture projects, which went on stream recently.

Source: Arab News©

Send Page To a Friend  

Starting Business with Saudi Arabia Use the Saudi Business Guide

Join the mailing list
Your Email Address:

Archives Section

Back to Business News


Free services in Saudia-Online
Free services

Free Websites for 
Saudi Arabia

Free services

Free Websites for Saudi companies and Establishment

Free services

Free Websites for
Saudi Arabia Travel
Agencies and Companies

Free services

Free Domain

Free services

List your Saudi
Arabia Company in
our Directory

Free services

Subscribe to our

Free services Jobs......
Post a job!

Job Openings

Free services

Advertise Free
Classifieds section. 

Free services

Gift Reminder

Free services


Get Stock Quote: Enter Symbol(s)

Symbol Lookup
My Portfolio
Our Privacy Vow 


Make Saudia-Online My Start Page  -  Bookmark Saudia-Online
Contact Us -  Advertising Info -  About Us -  Terms Of Service -  Add My Site -  Privacy Policy 

© 1999-2000-2001 by Horizon for Commercial Development Co., Ltd, All rights reserved.
  Saudia-Online,Malls2Save,JeddahMalls,RiyadhMalls,RiyadhShops,SaudiMade,Travel2Saudi and HDC are  trademarks of Horizon for Commercial Development Co. Ltd.  P.O. Box 14657, Jeddah 21434, Saudi Arabia
 Telephone 00966-2-6693585, Fax 00966-2-6693472

20 August 2001 04:47:47 PM

Click Here!