In the Frame of Strengthening GCC-Japanese Relations, HE GCCSG Receives a Delegation from the Japan Business Federation – Keidanren
His Excellency Mr Jasem Mohamed Albudaiwi, Secretary General of the Gulf Cooperation Council (GCC), received a delegation from the Japan Business Federation (Keidanren), led by His Excellency Mr Masayuki Hyodo, Chairman of the Board of Sumitomo Corporation, on Sunday (February 9, 2025) at the headquarters of the General Secretariat in Riyadh.
At the outset of the meeting, HE the Secretary General welcomed the visiting delegation, affirming that this visit reflects the profound historical and economic ties between the GCC countries and Japan and underscores the mutual commitment to enhancing bilateral cooperation in various fields.
His Excellency also noted that Japan is a strategic partner for the GCC countries, stressing that the relations, founded on trust and mutual respect, have witnessed significant development over the decades.
He commended the prominent role played by Keidanren in supporting and bolstering economic relations among countries, working together to explore new avenues for cooperation that serve mutual interests.
HE the Secretary General mentioned that negotiations on the Free Trade Agreement between the GCC and Japan, which resumed in July 2023, have seen positive progress. The first round of these negotiations commenced in December 2024 at the headquarters of the General Secretariat in Riyadh, where the two sides discussed several important topics, including trade in
goods and services, investment promotion, digital trade, intellectual property and other areas of common interest.
During his speech, His Excellency also addressed the Joint Action Plan for the period 2024-2028, which aims to enhance cooperation in energy, trade, investment, education, health, tourism, cultural exchange and political coordination.
“This plan represents a road map for deepening the strategic partnership between the GCC countries and Japan, reaffirming the mutual commitment to developing and strengthening bilateral relations,” HE the Secretary General said.
He further emphasised that the trade exchange volume between the GCC and Japan reached approximately USD 119 billion in 2023, inspiring aspirations to further enhance this commercial cooperation and increase the exchange volume to meet the shared ambitions of advancing economic relations.
The meeting also discussed several topics, most notably opportunities for enhancing joint cooperation between the GCC and Keidanren, as well as exploring the latest economic developments on the regional and international stages.
