RUSSIA AND JAPAN DISCUSS COOPERATION IN METALLURGY AND MECHANICAL ENGINEERING
01 March 2016
The Russian Ministry of Economic Development is looking into the possibility of stepping up cooperation with other countries in the metallurgy and mechanical engineering industries on the Asia-Pacific, African, and Southeast Asian markets.
Russia and Japan are discussing potential joint metallurgy and mechanical engineering projects in the Asia-Pacific region, Africa and Southeast Asia, Russian Minister of Industry and Trade Denis Manturov told journalists.
Earlier on Monday, Russia’s Deputy Minister of Economic Development Stanislav Voskresensky had announced that his department was looking into the possibility of establishing a partnership with Japanese investors to enter markets in third-party countries in the Asia-Pacific region.
“I would not limit the countries involved to just the Asia-Pacific region. Today, we have been discussing opportunities for our business partners to get involved in our projects in Africa and Southeast Asia. Japan has both the financial and the technological resources required, while we also have the industrial potential and solid partnerships”, said Manturov in the margins of the Russia–Japan Trade and Industrial Dialogue.
Manturov noted that while the Russian delegation was visiting Tokyo, Egyptian President Abdel Fattah el-Sisi was also in the city at the same time. “Egypt is a very close friend and partner, as is President Sisi himself, with whom we have established a good business relationship. We are therefore inviting our Japanese colleagues to join us, for example, in developing and populating the industrial zones being created for us by our Egyptian friends”, he added.
“The initial focus will probably be on mechanical engineering and advanced processing of metal products, particularly primary aluminium. We export primary aluminium and then we buy finished aluminium products. This would seem to be a flawed approach. So, for example, we have been developing a separate programme with Rusal, as the main producer of primary aluminium, to involve small and medium-sized businesses in various areas of primary aluminium processing and create separate business projects”, the Minister explained.
“I think our Japanese colleagues will definitely have an interest in such projects, because they do not require a huge financial outlay and can be fairly quickly implemented, thus providing rapid returns”, he added.