Saudi Arabia’s Crown Prince Mohammed bin Salman receives Japan’s Prime Minister Fumio Kishida at Al-Salam Palace in Jeddah on Sunday. (SPA)

Crown Prince Mohammed bin Salman of Saudi Arabia has met with Japanese Prime Minister Fumio Kishida in Jeddah. The two leaders discussed various aspects of bilateral relations and cooperation between their two countries, encompassing areas such as economy, trade, investments, and culture.

The discussions also focused on collaboration within the framework of Saudi Arabia's "Vision 2030" plan, which aims to diversify the country's economy by reducing dependence on income from hydrocarbon production.

Following their talks, Mohammed bin Salman and Kishida held a meeting with Japanese business representatives. Earlier this month, the Japanese Foreign Ministry announced that Kishida's visit to Saudi Arabia, the United Arab Emirates, and Qatar from July 16-18 aimed to address a range of issues and explore new business opportunities for Japanese enterprises.

In the same context, the Gulf Cooperation Council (GCC) and Japan have announced the resumption of negotiations on a free trade agreement.

After a meeting between Japanese Prime Minister Fumio Kishida and GCC Secretary General Jassim al-Budaiwi, a relevant agreement was signed. Concurrently, the statement emphasized that prioritizing the resumption of free trade negotiations with Japan is of great importance and is a crucial aspect of the GCC's external activities.

The free trade agreement is expected to enhance the strategic partnership between Japan and the GCC, promoting economic growth and job creation for both the Arab states and Japan. The statement also highlighted that Japan already relies on the GCC countries for more than 90% of its imported oil.