KAPSARC, IEEJ Sign Agreement to Strengthen Partnership between Saudi Arabia and Japan

The signing ceremony, which was held in Jeddah, came on the sidelines of the visit of Japanese Prime Minister Fumio Kishida to Saudi Arabia
The signing ceremony, which was held in Jeddah, came on the sidelines of the visit of Japanese Prime Minister Fumio Kishida to Saudi Arabia
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KAPSARC, IEEJ Sign Agreement to Strengthen Partnership between Saudi Arabia and Japan

The signing ceremony, which was held in Jeddah, came on the sidelines of the visit of Japanese Prime Minister Fumio Kishida to Saudi Arabia
The signing ceremony, which was held in Jeddah, came on the sidelines of the visit of Japanese Prime Minister Fumio Kishida to Saudi Arabia

The King Abdullah Petroleum Studies and Research Center (KAPSARC) has signed a memorandum of understanding (MoU) with the Institute of Energy Economics, Japan (IEEJ) to support their strategic partnership, lay a solid foundation for joint ventures, and promote areas of applied research activities, with the aim of accelerating innovation and stimulating the energy transition for a more sustainable energy future.

The signing ceremony, which was held in Jeddah on Tuesday, came on the sidelines of the visit of Japanese Prime Minister Fumio Kishida to Saudi Arabia.

The new cooperation agreement comes within the framework of the "Manar" initiative for clean energy cooperation, launched by the Saudi and Japanese sides, to be a guiding light to other countries and regions of the world in their quest to develop their strategies and plans to achieve their ambitions to reach climate neutrality.

The Saudi-Japanese cooperation includes research and applied activities that include joint workshops, holding events and participation in international conferences, evaluating experts specialized in the same field for research and policy papers, and exchanging researchers. KAPSARC and the IEEJ seek to make a positive impact on the energy community by building a supportive knowledge sharing ecosystem.

Expanding the scope of mutual collaboration, the partnership will encompass areas of mutual interest by combining knowledge wealth and research capabilities, including innovative solutions to address contemporary energy challenges such as hydrogen, ammonia, synthetic fuels (methane), carbon capture, use and storage technologies, carbon recycling and direct air capture, nuclear energy, and a variety of other specialized solutions to address today's energy challenges.

"The collaboration between KAPSARC and IEEJ has gone beyond energy, climate, and sustainability policies to include various other supporting factors such as technology and finance, with the aim of ensuring a fair and inclusive energy transition," said KAPSARC President Fahad Al-Ajlan.

"This transition is a pivotal pillar not only for both countries, but for the entire world, where more than 3 billion people lack access to energy,” he said.

IEEJ Chairman and CEO Tatsuya Terazawa pointed out the importance of consolidating cooperation with KAPSARC through this agreement and said he looks forward to strengthening cooperation with KAPSARC at the highest level to materialize the hoped-for expectations into reality and work towards achieving global leadership.



Riyadh Hosts Saudi-Egyptian Industrial Forum

Officials are seen at the forum on Monday. (SPA)
Officials are seen at the forum on Monday. (SPA)
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Riyadh Hosts Saudi-Egyptian Industrial Forum

Officials are seen at the forum on Monday. (SPA)
Officials are seen at the forum on Monday. (SPA)

The Saudi-Egyptian Industrial Forum kicked off in Riyadh on Monday under the patronage of Minister of Industry and Mineral Resources Bandar Alkhorayef. The forum aims to bolster strategic industrial cooperation and integration between the two countries.

Organized by the Federation of Saudi Chambers of Commerce in collaboration with the Federation of Egyptian Industries, the forum witnessed the participation of Deputy Minister for Industrial Affairs Eng. Khalil bin Salamah, Saudi Export Development Authority CEO Abdulrahman Althukair, and 300 prominent Saudi and Egyptian industry leaders and investors.

Bin Salamah underscored the significance of strengthening economic cooperation and industrial integration between Saudi Arabia and Egypt. He advocated for enhanced industrial partnerships within five priority sectors identified in the Kingdom's National Industrial Strategy: pharmaceuticals, automotive, building materials, textiles, and food industries.

He highlighted the evolving strategic integration between the two countries across initiatives like "Saudi Made,Future Factories," and "Made in Egypt," as well as in the broader goods and services sector. Bin Salamah urged Egyptian industrialists to capitalize on the industrial investment opportunities available in the Kingdom, citing its ambitious plans to establish 24,000 new factories over the next decade.

Federation of Saudi Chambers of Commerce Chairman Hassan Alhwaizy hailed the forum as a crucial milestone in Saudi-Egyptian industrial collaboration, emphasizing the strategic partnership underpinning their economic relations, particularly in the industrial sector.

Federation of Egyptian Industries Chairman Mohamed El-Sewedy stated that current global challenges are accelerating the need for industrial integration between the two countries, strengthening their partnership to tap into the African market's potential.

Saudi-Egyptian Business Council Chairman Bandar Al-Ameri highlighted the substantial growth in trade exchange between Saudi Arabia and Egypt in recent years, fueled by developing economic partnerships between their respective business communities. He emphasized that signing the agreement to protect and encourage mutual investments represents a strategic achievement serving their shared interests.