RUSSIA AND JAPAN DISCUSS CREATION OF INVESTMENT PLATFORM INVOLVING RUSSIAN DIRECT INVESTMENT FUND
20 July 2016
Alexei Ulyukayev has told the Japanese business community that Russia is seeking to dismantle trade barriers, RIA Novosti reports.
The Russian Minister of Economic Development talked about the need to create new mechanisms to support trade and investment. One option could be the establishment of an investment platform, currently under discussion by the two sides. It is expected that Russia will be represented in this project by the Russian Direct Investment Fund, an organisation designed to attract foreign investment.
“From the Japanese side, we are working with major institutions, such as the Japan Bank for International Cooperation. In our view, this initiative could bring good results”, Ulyukayev said during his visit to Tokyo.
At the international level, the Minister noted, Russia is an active member of the World Trade Organization, alongside its Japanese counterparts, and is working to remove barriers to trade.
“At the last ministerial conference in Bali, we adopted a trade facilitation agreement. The Russian Federation has already ratified it. It is essential that two thirds of the signatory countries to the agreement complete ratification procedures in the near future. This will enable us to reduce trade costs by 7–10%”, Ulyukayev said.