This year’s turnover of Russia and Japan is estimated at $18 billion, Russia’s Vice Premier Sergei Naryshkin announced.
Photo: Valeriy Melnikov
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Russia’s-Japan’s Turnover to Reach $18bn
This year’s turnover of Russia and Japan is estimated at $18 billion, Russia’s Vice Premier Sergei Naryshkin announced in Tokyo during the 16th International Business Conference that RBC arranged under the Innovation Is the Basis of Economy Diversification; Business Dialogue of Russia and Japan title.
According to Naryshkin, this year’s turnover of Russia and Japan is estimated at roughly $18 billion; the eight-month turnover reached $12.3 billion, 68.2 percent up on year.
The vice premier particularly emphasized high-tech and energy cooperation of Russia’s and Japanese companies, mentioning Japan’s participation in the Sakhalin project.
The automobile manufacturing by Japanese companies in Russia is at full swing, Naryshkin pointed out. Toyota and Nissan are constructing their carmakers near St. Petersburg. St. Petersburg, the RF Economic Development Ministry and Suzuki sealed an understanding memorandum in June of 2007. Isuzu has set up a joint venture with Severstal-Avto.
“We count on development in the high-tech branches, such as communication and telecommunication,” the vice premier said, adding that Russia is also interested in higher usage of its transit potential by Japan’s companies.
Naryshkin said the bill spelling out procedures for foreign investors’ participation in strategic enterprises of Russia has passed the first reading in the State Duma. The clear and transparent procedures for agreeing on the deals, the vice premier pointed out, will enable to avoid subjective attitude when making the decisions and improve investment attractiveness of Russia.
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