Trade between Saudi Arabia and Japan jumps to $36 billion
The Japanese Consul General in Jeddah, Daisuke Yamamoto, affirmed the strength of the economic and strategic relations between Tokyo and Riyadh, revealing record figures that reflect the rapid development of cooperation between the two countries. This came during his speech at the diplomatic reception held by the consulate to celebrate the birthday of the Emperor of Japan, in the presence of a number of officials and diplomats, most notably His Royal Highness Prince Saud bin Jalawi, Governor of Jeddah.
Record growth in trade
Yamamoto explained that the volume of trade exchange between the Kingdom of Saudi Arabia and Japan witnessed a qualitative leap to reach a ceiling of $36 billion by the end of 2024. This figure represents a record growth of 50% since the launch of “Vision 2030”, which reflects the success of the joint economic plans and the convergence of visions between the leaderships of the two countries to enhance the partnership at various levels.
Historical depth and strategic partnership
These figures represent the culmination of a long history of diplomatic and economic relations between the two countries, with Japan being a key strategic partner of the Kingdom for decades. Cooperation is no longer limited to traditional energy exports but has expanded to include deep strategic partnerships under the umbrella of the Saudi-Japanese Vision 2030. This shared vision aims to reduce overall dependence on oil, focus on economic diversification, transfer technology, and localize advanced industries within the Kingdom, as clearly demonstrated by the diversity of current investments.
Japanese direct investment expands
In the context of direct investment, the Japanese Consul revealed that the number of Japanese companies investing in the Kingdom has risen to 118, with total direct investments estimated at approximately SAR 23.6 billion. He noted that 18 of these companies have chosen the Kingdom as their regional headquarters for managing their operations in the Middle East, thus reinforcing Saudi Arabia's position as a global logistics and investment hub. These investments are concentrated in vital and high-quality sectors, including petrochemicals, renewable energy, water technologies, the automotive industry, and microelectronics.
Cultural bridges and diplomatic facilities
On the diplomatic and cultural front, Yamamoto noted the entry into force last January of the mutual visa exemption agreement for holders of diplomatic and official passports, a step aimed at facilitating official and institutional communication. He also praised the strong public engagement with Japanese culture, citing the resounding success of the Matsuri District Festival in Jeddah, which attracted more than 12,000 visitors, reflecting the soft power and cultural affinity between the two friendly nations. He concluded by calling for the strengthening of this communication through upcoming global events such as the 2026 Asian Games and Expo 2027.
