Saudi Arabian General Investment Authority (SAGIA) today underscored the importance of 60 years of diplomatic relations between Japan and Saudi Arabia, honoring the historical bond forged between the two countries in 1955 but emphasizing the rising economic value of trade relations between the two countries today. At the Invest in Saudi exhibition in Tokyo, attendees congregated to review the business opportunities made available to Japanese businesses by Saudi Arabia's investment in developing its infrastructure. Japan's foreign direct investment balance for Saudi Arabia stood at US$3,906 million at the end of 2013, representing an increase of eight times the balance of 1996 and a four times larger than average global balance. Collaboration between Japanese and Saudi Arabian businesses is increasing, and SAGIA Governor Abdullatif Al-Othman emphasized the modern relevance of this to both countries: "The value and importance of our relationship with Japan was exemplified by the visit of the Custodian of the Two Holy Mosques, then Crown Prince, now King Salman bin Abdulaziz Al Saud, to Tokyo in 2014. There he signed three memorandums of understanding, including one encouraging joint investments between Japan and Saudi Arabia." Governor Al-Othman spoke to government and business delegates, explaining the steps SAGIA has taken to create the right environment where Japanese investments can take root and flourish. --More 18:52 LOCAL TIME 15:52 GMT تغريد
