Japan and Saudi Arabia are expected to agree on joint investments to develop rare earth minerals resources during Prime Minister Fumio Kishida’s visit to the Middle East, the Nikkei newspaper reported on Saturday.
Kishida arrives in Saudi Arabia and the United Arab Emirates (UAE), oil producers, as well as liquefied natural gas producers Qatar, Japan’s main energy suppliers lacking resources, for a visit beginning on Sunday and lasting until Tuesday.
Scarce earth resources are essential for decarbonization and the production of electric vehicles in particular as Japan aims to be carbon-neutral by 2050, and Saudi Arabia strives to diversify its economy away from oil.
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