MOSCOW, September 16 (RIA Novosti) - Recent measures by the Soviet government to consolidate the state power system are adding up to stability, the factor so favoured by foreign investors. This statement was made Thursday by Sergey Stepashin, chairman of the Russian Federation Audits Chamber, president of the Russian-Japanese business council, as he met with a delegation of the Japanese corporate leaders association (Keizai Doyukai). The latter has arrived in Russia to explore prospects for expanding cooperation in the sphere of investment and joint ventures, reports the Audits Chamber's press-release.
The sides agreed that improvement of control over the efficacy of funds-spending at facilities with Japanese partnership would promote trade and economic links being still inferior to the available potential.
The sides have urged a complex study of cooperation strategies to make mutual business contacts more practical. Above all in such fields as investment, the power industry, high technologies and the construction of the East-West railway, says the press-release.
The trade turnover between Russia and Japan last year constituted $5.96 billion. Of January 1 this year, the total volume of Japanese investment in the Russian economy was $1.9 billion.
