Secretary of the Japanese Muslims Association Shaikh Amin Tokomats has expressed utmost delight at the current visit of Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud to Japan.
Specifically, the two governments will launch preparatory researches for the envisaged economic zone and joint investment in the artificial intelligence and big data markets in the Middle Eastern country. Saudi Arabia and Japan maintain strong economic relations.
The 81-year-old king arrived in Tokyo on Sunday for a four-day visit to Japan, as part of a monthlong tour of the Asia-Pacific region.
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Approximately 10 aircraft were used to transport the huge delegation to Japan, a local government official said, while over 1,000 rooms at high-end hotels in Tokyo have been reserved and some 500 limousines mobilised for the delegation, a Saudi government source said.
TOKYO-Japan agreed Monday to encourage its companies to supply expertise and invest in Saudi Arabia, hoping to build ties and urge oil giant Aramco to list some of its shares on the Tokyo Stock Exchange.
"Many Japanese take Saudi Arabia's commitment to its reforms seriously". (JPX) signed a Memorandum of Understanding (MoU) on Tuesday that will formalize and develop further cooperation between the two exchanges.
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The IPO is the centerpiece of the Saudi government's ambitious plan, known as Vision 2030, to diversify the economy away from oil.
The king told the Emperor through an interpreter that he is very glad to visit Japan, which he called his "second home".
A key thrust of the Vision 2030 strategy is the setting up of special deregulated economic zones in Saudi Arabia, featuring tax incentives, easier Customs procedures and relaxed visa rules, to woo Japanese companies and investors.
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They had a meeting and lunch together at the Imperial Palace also in February 2014, when Salman was crown prince. Deputy Crown Prince Mohammed bin Salman, the king's son, is spearheading the effort, announced previous year and dubbed Vision 2030.