The Seventh Round of Formal Negotiations on Bilateral Investment Agreement between Japan and the Kingdom of Saudi Arabia

May 7, 2008

The seventh round of formal negotiations on the bilateral investment agreement between Japan and the Kingdom of Saudi Arabia was held at the Ministry of Foreign Affairs on Friday , May 2 .　The negotiation was attended on the Japanese side by Mr. Shinsuke Sugiyama, Deputy Director-General, Middle Eastern and African Affairs Bureau of the Ministry of Foreign Affairs (Head of the Japanese Delegation), Mr. Toshihisa Takata, Deputy Director-General for Trade Policy, Trade Policy Bureau of the Ministry of Economy, Trade and Industry, and other relevant officials from the ministries concerned; and on the Saudi side by Dr. Awwad S. Al-Awwad, Deputy Governor of the Saudi Arabian General Investment Authority (SAGIA), Mr. Osamah A. Al-Ghanm, Director of the International Agreements and Cooperation Department of SAGIA, and other representatives from SAGIA.
In a friendly and constructive atmosphere, the two parties had a discussion and reached an agreement in principle on the draft text of the Agreement. They also confirmed to continue necessary procedures in respective countries for the early signing of the Agreement.

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