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

December 12, 2007

  1. The fifth round of formal negotiations on the bilateral investment agreement between Japan and the Kingdom of Saudi Arabia was held in Riyadh on December 10 (Mon). 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.
  2. In a friendly and constructive atmosphere, the two parties had a discussion on the practical course and the main provisions of the agreement while recognizing the significance of the agreement in further promoting investment activities between the two countries.
  3. The two parties decided to hold the next round of negotiations in Tokyo at an appropriate time early next year.  The exact schedule will be decided by both parties in due course.

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