TOKYO — Japanese Prime Minister Fumio Kishida will embark on a visit to Saudi Arabia on Sunday, Nikkei reported.

Nikkei said that Kishida is scheduled to meet with Crown Prince Mohammad Bin Salman. The two countries are expected to agree on joint investments to develop rare-earth resources.

Kishida is visiting Saudi Arabia as part of a tour of the Middle East.

As part of the agreement, a memorandum of cooperation will be signed soon by Japan's Ministry of Economy, Trade and Industry, the state-backed Japan Organization for Metals and Energy Security (JOGMEC) and Saudi Arabia's Ministry of Industry and Mineral Resources.

Under the deal, Japan and Saudi Arabia will explore resource development projects in third countries for joint investment. They hope to secure rights to key minerals, such as rare-earth metals used in electric vehicles.

Demand for EVs is only growing amid a global push toward decarbonization.

Kishida will also be stopping at the United Arab Emirates and Qatar to meet with their leaders and affirm cooperation in energy and other fields. — SG