Japanese Ambassador HE Shigeru Nakamura
in his opening remarks said that he
considers this as a special privilege and
honor to be invited for this Symposium on
Japanese stock markets. It is only two weeks
earlier the Japanese Prime Minister paid a
visit to the Kingdom and issued a joint
statement with the Custodian of Holy Mosques
King Abdullah on measures to be taken
towards future prosperity of the two
countries.
Saudi – Japanese bilateral relationship have
never been so stronger than today.
Various bilateral agreements have been made
during the visit of the Prime Minister. Saudi-
Japanese Financial relationship is
strengthening. Japanese financial institutions
are now in the process of entering in to Saudi
Arabia.
This symposium is therefore organized in the
most appropriate time.
Energy is the basic component of Saudi –
Japanese relationship. But it is time to extend
our cooperation in other areas. Japanese
companies are looking for active participation
in Saudi industrial and financial sector. It is
time for Saudi investors actively invest in
Japanese capital markets.
Japanese capital market underwent turbulence for
almost a decade which we consider as a lost
decade in our development process. There are
still some adverse effects of the losses we
suffered.
Flow of foreign capital has helped us in our
recovery process. Japan was a closed economy
with cross-shareholding in most corporations.
With increased accountability and transparency
doors are now open to the foreign investors and
the result is encouraging.
We hope that Saudi Arabia will soon open its
market to overseas investors.
I would now like to thank Dr. Ahmed Yamani and
his colleagues for organizing this event wish
you success in your efforts.
