Japan and Saudi Arabia strengthen green energy cooperation

Japan and Saudi Arabia have agreed to strengthen cooperation in the field of green energy, according to a statement posted on Japan’s Foreign Ministry website.

Japan wishes to strengthen multifaceted cooperation with Saudi Arabia in the areas of strategic mineral exploration and refining, solar energy development, hydrogen production and use and ammonia.

The statement, which followed the meeting of Japanese Prime Minister Fumio Kishida with Saudi Crown Prince Mohammed bin Salman in Jeddah on Sunday, said Kishida thanked Saudi Arabia for providing stable oil supplies over several years and stressed his desire to strengthen cooperation in multiple areas such as the global oil market, petroleum and gas, and clean energy development. The statement also quoted the Saudi Crown Prince as confirming his endeavor to achieve the interests of the two countries as consumer and oil producers.

Japan is the Kingdom’s third largest trading partner, with trade between the two countries reaching 178 billion riyals last year. In 2021, Saudi Arabia became the largest oil supplier to Japan, which imports about 40% of its needs from the Kingdom.

The two leaders also agreed to study cooperation through the Saudi proposed “Manar Clean Energy Cooperation Initiative”, emphasizing the close partnership between the two countries in promoting a balanced green transformation, according to the statement that Kishida also hopes to increase Saudi investment in Japan’s semiconductor and battery industries. The two leaders agreed on the importance of taking measures – such as facilitating visa requirements – to promote investment and business activity between the two countries.