The Japanese Consul General in Jeddah, Daisuke Yamamoto, revealed remarkable economic figures reflecting the depth of the strategic partnership between Tokyo and Riyadh. He announced that the volume of trade exchange between the two countries jumped to reach $36 billion by the end of 2024, achieving a record growth of 50% since the launch of the Kingdom's Vision 2030. This came during his speech at the diplomatic reception held by the consulate on the occasion of the birthday of the Emperor of Japan, in the presence of His Royal Highness Prince Saud bin Jalawi, Governor of Jeddah, and the Director of the Ministry of Foreign Affairs branch, Farid Al-Shehri.
Strategic and historic partnership
These figures are the culmination of decades of robust diplomatic and economic ties between the two countries. Saudi Arabia is Japan's primary supplier of crude oil, making it a cornerstone of Japanese energy security. Conversely, Japanese technology and expertise play a pivotal role in supporting infrastructure projects and economic diversification in the Kingdom. This relationship has been further strengthened following the launch of the Saudi-Japanese Vision 2030, which aims to transform the relationship from a mere exchange of energy and goods into a comprehensive partnership encompassing investment, manufacturing, and human resource development.
Growth of direct investments and regional headquarters
In the context of foreign direct investment, Yamamoto explained that the number of Japanese companies investing directly in the Kingdom has risen significantly to 118. He pointed to a significant turning point: 18 major Japanese companies have chosen the Kingdom as their regional headquarters for managing their operations in the Middle East, which aligns with the Kingdom's objectives of attracting regional headquarters for global companies.
The Consul estimated the total Japanese direct investments at about 23.6 billion riyals, stressing that these investments are no longer limited to traditional sectors, but have expanded to include qualitative and vital sectors such as advanced petrochemicals, water solutions, the automotive industry, and microelectronic technologies, reflecting the growing confidence in the Saudi investment environment.
Growing diplomatic and cultural cooperation
On the diplomatic front, and regarding streamlining procedures, the Consul noted the entry into force last January of the mutual visa exemption agreement for holders of diplomatic and official passports, a step aimed at strengthening official institutional communication between the two countries. Culturally, Yamamoto praised the large public turnout for Japanese cultural events, such as the Matsuri District Festival in Jeddah, which attracted 12,000 visitors, demonstrating the Saudi public's enthusiasm for Japanese culture.
The Consul concluded his remarks by emphasizing the importance of upcoming global events in strengthening ties of friendship, extending an open invitation to visit Japan and participate in anticipated events such as the 2026 Asian Games and the 2027 International Horticultural Exhibition, stressing that the future holds more opportunities for fruitful cooperation between the two Asian giants.
