Russia and Japan plan to bring bilateral trade to $30 bln

Russia and Japan have the goal to bring the bilateral trade turnover to $30 bln, Economic Development Minister Maxim Oreshkin told reporters on Tuesday. He was speaking after the meeting with his Japanese counterpart Hiroshige Seko.

Oreshkin did not specify if it was the goal for the coming year or for a longer period. But the minister noted that last year the two countries had managed to achieve a 20% growth in trade bringing it $20 bln.

“Now we are specifying the categories of goods where we have prospects to increase supplies,” he said.

Oreshkin named tourism as another sector for deeper interaction.

“Here, we discussed abolishment of visas. As you know, it was recently discussed at the talks of the foreign ministers. Indeed, such an event would be very significant and would immediately raise the exchange of tourists to a qualitatively new level,” the Russian minister said.

Three more areas for expanding cooperation are investments, technologies and infrastructure, the minister said.

“Now we are completing a whole series of test deliveries of Japanese products to the European market through BAN (Baikal Amur Mainline -TASS), Transsib (Transiberian railroad -TASS). In general, our Japanese partners are happy with the results, so this is the basis that we have now and we will develop. A number of large infrastructure projects is also being discussed, which would more actively link the two countries, including the Northern Sea Route,” Oreshkin said.

Oreshkin met with Japan’s Minister of Economy, Trade, and Industry Hiroshige Seko earlier on Tuesday. Their meeting proceeded the meeting of Russian President Vladimir Putin and Japanese Prime Minister Shinzo Abe, which will be held on Tuesday.

Oreshkin told reporters that Putin and Abe will discuss the strategy for expanding trade and economic cooperation between the two countries. He explained that the strategy will become a new document containing an action plan for bringing economic relations between Russia and Japan to a qualitatively new level.

Earlier, the Kremlin’s press service announced that during the talks on January 22, Putin and Abe are also expected to consider the conclusion of a peace treaty between Russia and Japan.

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