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  • JAPANESE MINISTER OF ECONOMY, TRADE, AND INDUSTRY: “THE EASTERN ECONOMIC FORUM HAS REVEALED A HIGH LEVEL OF INTEREST IN THE RUSSIAN FAR EAST ON THE PART OF JAPANESE COMPANIES”

    07 September 2016

    On the eve of the Forum, Hiroshige Seko was appointed Minister for Economic Cooperation with Russia.

    According to Mr Seko, “By hosting the Eastern Economic Forum, the Russian government gains a good opportunity to demonstrate its special interest in the Far East”, TASS reports.

    “A Russian–Japanese business roundtable was held this year, and attended by over 200 representatives from Japan. Compared with last year, this event was attended by more people from the business community. When starting a business, it is important to be able to gather information and have reliable partners, so forums like this one have a positive impact on the development of specific projects. More than 20 documents related to individual Far-East-based projects were signed at the Forum. This accounts for the high level of interest shown by Japanese companies in the Russian Far East”, the Minister explained.

    He also said that the number of Japanese companies operating in the Russian Far East may grow.

    Mr Seko noted positive shifts in the economic development of Russia’s eastern regions.

    “In December 2013, Russian President Vladimir Putin announced in his annual address to the Federal Assembly that the development of Russia’s Far Eastern and Siberian regions was a national priority. In the wake of this message, the Russian Government began to take positive steps in the Far East, such as the introduction of a new type of special economic zone, the granting of free port status to Vladivostok, and the selection of priority investment projects”, he said.

    Among the outcomes of the Forum, the Minister highlighted the high-level bilateral agreement to create a platform for promoting cooperation between small and medium-sized enterprises from both countries. Furthermore, at the beginning of August, agreement was reached on the implementation of plans to measure productivity and train qualified staff.

    “In the future, we would like to promote cooperation on initiatives in the energy sector via Japanese–Russian consultations”, Hiroshige Seko added.