Russia and Japan signed around 20 agreements worth more than $1.3 bln at the second Eastern Economic Forum (EEF), Minister for the Development of the Russian Far East Alexander Galushka said before the meeting with Japan’s Minister of Economy, Trade and Industry Hiroshige Seko on Wednesday.

“We’ve just summed up the results of the forum, looked through the cooperation agreements signed by Japanese and Russian partners. There were around 20 such agreements made, totally worth more than $1.3 bln,” he said.

Russia, Japan to prepare plan of cooperation in Far East

After the meeting Alexander Galushka said that the cooperation plan that he discussed with Hiroshige Seko contains 18 projects .

“All in all we’ve discussed 18 projects in five areas with Mr. Seko,” Galushka said, adding that the sides had also agreed that this cooperation “is mutually beneficial.”

The plan of cooperation between two neighboring countries – Russia and Japan – in Russia’s Far East will be prepared in the nearest days, Galushka said following his talks with Seko.

“We’ve agreed to draft a plan for cooperation between Russia and Japan in the Far East within the nearest days, taking into account all the work that has been done,” he said.

According to Minister, joint projects cover investment by Iida Group as well as “the participation of Japanese financial institutions in reconstruction of the international airport in Khabarovsk and the construction of car engines by Mazda Sollers in Vladivostok.”

Galushka is visiting Japan for continuation of the talks that just took place within the framework of the second Eastern Economic Forum in Vladivostok. The Japanese delegation at the forum was led by Prime Minister Shinzo Abe.

During his visit to Tokyo, Galushka is expected to meet with President of the Japanese Association for Trade with Russia and Newly-Independent States (ROTOBO) and Chairman of the Board of Directors of Kawasaki Heavy Industries, Shigeru Murayama, the management of the Japanese Bank for International Cooperation and representatives of the Japanese business community.

The two sides will discuss the development of economic cooperation between Moscow and Tokyo. According to preliminary data, Japan accounts for about 7% of all investment attracted to Russia’s Far East through priority development areas and the Free Port of Vladivostok.