عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Japan, Gulf Continue Discussions on Free Trade Agreement

Japan’s Ambassador Extraordinary and Plenipotentiary to Saudi Arabia Fumio Iwai. (Japanese Embassy in Saudi Arabia)
Japan’s Ambassador Extraordinary and Plenipotentiary to Saudi Arabia Fumio Iwai. (Japanese Embassy in Saudi Arabia)
TT
TT

Japan, Gulf Continue Discussions on Free Trade Agreement

Japan’s Ambassador Extraordinary and Plenipotentiary to Saudi Arabia Fumio Iwai. (Japanese Embassy in Saudi Arabia)
Japan’s Ambassador Extraordinary and Plenipotentiary to Saudi Arabia Fumio Iwai. (Japanese Embassy in Saudi Arabia)

Japan’s Ambassador Extraordinary and Plenipotentiary to Saudi Arabia Fumio Iwai underscored on Sunday the strategic ties that bind his country with the Kingdom.

In remarks to Asharq Al-Awsat Iwai revealed that Japan and Gulf countries are studying several potential projects. Discussions are also ongoing between Tokyo and the Gulf Cooperation Council (GCC) over a Free Trade Agreement.

As strategic partners, Saudi Arabia and Japan have always sought to expand their bilateral relations to include several new fields, such as information technology, healthcare, space, sports, entertainment, culture and tourism.

He noted that in 2025 both countries will mark 70 years since the establishment of diplomatic relations between them. They are determined to forge ahead in developing them on all levels to achieve sustainable development goals.

Iwai congratulated Custodian of the Two Holy Mosques King Salman bin Abdulaziz, Prince Mohammed bin Salman, Crown Prince and Prime Minister, and the Saudi people on the occasion of the Kingdom’s 94th National Day, which falls on September 23.

Since their establishment in 1955, Saudi-Japanese relations have developed year after year, with a focus on the energy sector, he went on to say.

After the launch of Saudi Arabia’s Vision 2030, these ties needed to follow the plan, so they launched their joint Saudi-Japan Vision 2030 during Crown Prince Mohammed’s visit to Tokyo in 2016, added the ambassador.

The move underscored Japan’s major support to the social and economic reforms Saudi Arabia has adopted.

Since the establishment of their joint vision, Saudi Arabia and Japan have intensified contacts and visits. Crown Prince Mohammed held a virtual meeting with Prime Minister Fumio Kishida in May. They agreed to form the strategic partnership council to bolster bilateral cooperation and coordination in all fields, noted Iwai.

Japan has become one of the main countries attracting Saudi investments, he remarked. Both countries are also developing their relations further in the culture, tourism, sports, entertainment, e-games and academic sectors.

Trade relations between Riyadh and Tokyo continue to grow immensely, he stated. The value of Japanese exports to Saudi Arabia topped 892.5 billion yen in 2023, up by 33.6 percent from the year before.

Moreover, over 120 Japanese companies are operating in Saudi Arabia and since the launch of Vision 2030, several more companies in vital sectors have opened offices in the Kingdom. Among these companies are Cannon Medical Systems, Monstarlab, Fujifilm Healthcare, HIS, SYSMEX, AIZAWA Concrete, Avex and Takeda Pharmaceutical.

Iwai highlighted 2023’s Manar clean energy initiative as one of the most important projects launched between Saudi Arabia and Japan. Tokyo supports Saudi Arabia’s ongoing efforts to become a hub for clean energy, mineral resources and supply chains.

Most Viewed

 
 
Business

Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
TT
TT

Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)

Saudi Arabia has made history by uniting the 193 member states of the World Intellectual Property Organization (WIPO) to adopt the Riyadh Treaty on Design Law. This landmark achievement, realized after two decades of deliberation, underscores the Kingdom’s leadership in enhancing the global intellectual property system.

The announcement came at the conclusion of the Riyadh Diplomatic Conference on the Design Law Treaty, a rare event for WIPO, which has not held a diplomatic conference outside Geneva for more than a decade. It was also the first such event hosted in Saudi Arabia and the Middle East, representing the final stage of negotiations to establish an agreement aimed at simplifying and standardizing design protection procedures across member states.

Over the past two weeks, intensive discussions and negotiations among member states culminated in the adoption of the Riyadh Treaty, which commits signatory nations to a unified set of requirements for registering designs, ensuring consistent and streamlined procedures worldwide. The agreement is expected to have a significant positive impact on designers, enabling them to protect their creations more effectively and uniformly across international markets.

At a press conference held on Friday to mark the event’s conclusion, CEO of the Saudi Authority for Intellectual Property Abdulaziz Al-Suwailem highlighted the economic potential of the new protocol.

Responding to a question from Asharq Al-Awsat, Al-Suwailem noted the substantial contributions of young Saudi men and women in creative design. He explained that the agreement will enable their designs to be formally protected, allowing them to enter markets as valuable, tradable assets.

He also emphasized the symbolic importance of naming the convention the Riyadh Treaty, stating that it reflects Saudi Arabia’s growing influence as a bridge between cultures and a global center for innovative initiatives.

The treaty lays critical legal foundations to support designers and drive innovation worldwide, aligning with Saudi Arabia’s vision of promoting international collaboration in the creative industries and underscoring its leadership in building a sustainable future for innovators.

The agreement also advances global efforts to enhance creativity, protect intellectual property, and stimulate innovation on a broader scale.

This achievement further strengthens Saudi Arabia’s position as a global hub for groundbreaking initiatives, demonstrating its commitment to nurturing creativity, safeguarding designers’ rights, and driving the development of creative industries on an international scale.

The Riyadh Diplomatic Conference, held from November 11 to 22, was hosted by the Saudi Authority for Intellectual Property and attracted high-ranking officials and decision-makers from WIPO member states.