Saudi Crown Prince Mohammed bin Salman has postponed his scheduled trip to Japan due to concerns over the health of his father, King Salman Bin Abdulaziz.
What Happened: The Crown Prince’s visit, which was set to take place from May 20 to May 23, has been postponed, Bloomberg reported. This would have been his first visit to Japan since 2019. The two nations have agreed to reschedule the visit, but no new dates have been announced.
The Crown Prince was expected to meet with Prime Minister Fumio Kishida during his trip. The two were also set to sign an agreement aimed at strengthening supply chains for liquid hydrogen, a key component in Japan’s green energy projects.
The postponement comes after the Saudi Press Agency reported that King Salman is suffering from lung inflammation and will be receiving treatment at Al Salam Palace in Jeddah. The Crown Prince, who manages most of the kingdom’s day-to-day affairs, is next in line to the throne.
Why It Matters: The postponement of the Crown Prince’s visit to Japan is significant in the context of the ongoing efforts to strengthen economic ties between the two countries. Just a week ago, it was reported that the Crown Prince was set to visit Japan to further bolster the economic relationship between the two nations. Japan is a significant trade partner of Saudi Arabia, with their trade volume reaching $42 billion last year.
Moreover, the postponement comes at a time when Saudi Arabia is in discussions with the U.S. for a security pact, and the Crown Prince is playing a crucial role in these negotiations. The health of the King and its potential impact on the leadership of Saudi Arabia could have implications for these discussions.
Read Next: JPMorgan’s Jamie Dimon Warns Of ‘A Lot Of Inflationary Forces’ Ahead, Predicts Higher Interest Rates
Photo via Kremlin on Wikimedia Commons
Engineered by Benzinga Neuro, Edited by Kaustubh Bagalkote
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.