TOKYO, March 13 (Xinhua) -- Japan and Saudi Arabia agreed here on Monday on a "Saudi-Japan Vision 2030" plan to advance bilateral economic ties.
The plan was announced after a summit between Japanese Prime Minister Shinzo Abe and the visiting King Salman bin Abdulaziz Al Saud of Saudi Arabia.
"I feel that the plan will further strengthen the strategic partnership between our countries," said the 81-year-old king at the beginning of the summit.
Abe, for his part, said that he wants Japan to "boldly advance ties with Saudi Arabia, the country key to the stability of the Middle East."
Part of the plan involves setting up special economic zones in the Middle East country to attract Japanese investment by easing regulations and simplifying customs procedures.
The two sides will also advance negotiations over listing Saudi Aramco, Saudi Arabia's national oil company, on the Tokyo Stock Exchange as part of its partial privatization, according to the plan.
In a bid to diversify its heavily oil-dependent economy, Saudi Arabia has announced a "Saudi Vision 2030" growth strategy last year, which includes privatizing some state-owned companies.
Japan, for its part, has hoped to make use of the opportunities to deepen economic ties with the Middle East country, which is also Japan's largest supplier of crude oil.
Other cooperation initiatives in the plan include intensifying efforts to realize seawater desalination projects and boosting cooperate in promoting renewable energy use in Saudi Arabia.
King Salman bin Abdulaziz Al Saud of Saudi Arabia and his delegation arrived in Tokyo Sunday evening for a four-day visit. It was the first trip to Japan by a Saudi Arabian king in 46 years.