Japan and a group of Arab economies agreed Monday to strengthen their ties to improve water conditions in the region, including through a proposed intergovernmental policy dialogue that could help Japanese firms find new business opportunities.
Entering the water development industry is a crucial issue for the government, which is seeking to place Japanese companies in a position to compete with rival European "water majors" that develop, construct and manage water utility systems in developing economies.
"Arab nations face a chronic problem of water shortages. We will hold intergovernmental dialogues to accelerate and smooth efforts" to solve the problem, Minister of Economy, Trade and Industry Masayuki Naoshima said after the ministerial session of the first Japan-Arab Economic Forum held in Tokyo.