Japanese Trade Association: Russia 'Has Already Emerged From Economic Crisis'

The recovery of Japanese-Russian trade and the increase in the number of Japanese companies in Russia confirm that Russian economy overcame the crisis, Daisuke Saito, the chief representative of Japan Association for Trade with Russia and the new independent states (ROTOBO), told Sputnik.

MOSCOW (Sputnik) — Daitso said he believes that Russia "has already emerged from the crisis," citing Japan's official statistics.

"In 2016, exports from Japan to Russia amounted to $5.1 billion, imports to Japan — $11.3 billion, i.e. trade between our countries amounted to $16.4 billion," Saito said ahead of the Eastern Economic Forum (EEF).

He added that since the beginning of 2017, trade between the two nations had exceeded the last year's level, from January to June 2017, amounting to $10.24 billion.

【オピニオン】　関係改善へ一直線：#ROTOBO 村山会長「#日本 の熱意、#プーチン大統領 に評価してもらいたい」https://t.co/AL89bv8u1x#ロシア pic.twitter.com/dHBXFMu4eX

— Sputnik 日本 (@sputnik_jp) November 16, 2016

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Daitso has also outlined the prospects for the Russia-Japan economic cooperation, saying the both countries have products and services they can offer each other.

In particular, he said, Japanese businesses are interested in investing in medicine, agriculture, urban planning, and infrastructure sectors of Russia. Speaking on the Russian imports to Japan, the official said that Tokyo is interested in the imports of meat and fish products.

Daitso indicated that the Russian side is working to improve the environment to boost business activity and attract more investments.

"In particular, by creating special zones of a new type, territories of priority development in the Far East, which introduce simplified administrative procedures and ease customs rules… We highly appreciate this," Saito concluded.

The annual forum in Vladivostok in Russia’s Far East is scheduled for September 6-7.