Japan, Arab ministers vow further economic cooperation

Japan and Arab ministers agreed, Thursday, to enhance their cooperation in various areas to benefit the development of all parties involved, said the the fifth Japan-Arab Economic Forum. The fields of interest included industrial development, energy and economic security, high-quality infrastructure, digital transformation, low-carbon energy and energy saving and resources development, added a joint press statement issued after the forum. During the ministerial conference on the second day of the Economic Forum, the two sides exchanged views on co-creating sustainable and resilient economic development through a wide range of fields. Japan expressed its desire to cooperate with the Arab public sectors and businesspersons towards sustainable and resilient economic development under the theme "Japan-Arab New Horizons for Innovation and Creativity," the document said. Japanese Foreign Minister Yoko Kamikawa and Minister of Economy, Trade and Industry Ken Saito co-chaired the ministerial-level talks, which we re attended by Arab League Secretary-General Ahmad Abul-Gheit. Kuwait's Minister of Electricity, Water and Renewable Energy and Minister of State for Housing Dr. Mahmoud Bushehri, and other Arab ministers also attended. The ministers also decided to hold the sixth Japan-Arab Economic Forum in one of the Arab countries in 2026, the press release said. Kamikawa said the concept of the forum was to create synergy between Japan and the Arab countries and to progress toward prosperity together, and that the aim of the ministerial conference was to deepen discussions on directions for new economy and business cooperation between Japan and the Arab countries, according to the Japanese Foreign Ministry. Abul-Gheit said that cooperation on climate change, artificial intelligence (AI), education and other areas would help expand investment, according to public broadcaster NHK. Abul-Gheit also expressed hope that the Arab League would learn from Japan's knowledge, it said. Around 700 participants from a wide range of sectors from Japan and the Arab countries took part in the two-day forum. The joint press release said that, at the Public-Private Business and Economic Conference held on Wednesday, the participants confirmed the importance of expanding and deepening mutual economic relations between the two sides, especially through stimulating investment by the Arab side for Japanese companies to diversify the economic relationship. At Wednesday's gathering, the two sides also agreed to advance the discussion with the aim of promoting and supporting cooperation in sectors such as economic diversification and cooperation for innovation energy, climate change, green products, water, waste management, hydrogen and ammonia, as well as in the field of new technologies, telecommunications, AI, and building resilient supply chains. Source: Kuwait News Agency