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【METI Mobile】Japan’s Economic Cooperation with Russia

Vladivostok City

The short flight from Tokyo to the city of Vladivostok, Russia only takes two and a half hours, but until recently the cities have seemed miles apart politically.

A new chapters in Japan-Russia relations

Despite geographic proximity and the relative scale of their economies, trade between Japan and Russia is comparatively low. In absolute terms, it remains less than 4% of the amount between Japan and China, and remains less than 20% even when adjusted for GDP. By deepening the bilateral economic relationship through mutual cooperation, Japan and Russia both hope to enhance their relationship.

Japan appoints new Russia trade minister

In September 2016, Mr. Hiroshige Seko, Minister of Economy, Trade and Industry, also took on the role of Minister for Economic Cooperation with Russia . He joined the Japan-Russia Summit meeting in Vladivostok between Prime Minister Abe and President Putin , where Japan proposed an eight point cooperation plan to continue improving economic relations between the two countries.

Cooperating on shared issues

Japan and Russia will continue to develop the eight point cooperation plan, which covers topics such as quality of life for aging populations. Like Japan, Russia is expected to face a decline in working-age population. The new eight point plan details a proposal to extend the length of healthy living for Russian seniors through Japan’s cutting-edge medical facilities. This kind of mutual cooperation is a win-win for both Japan and Russia. By deepening the Japan-Russia economic relationship, Japan will continue to cultivate further economic growth.

Ministers Seko and Ulyukayev  exchanging memorandums
(Ministers Seko and Ulyukayev exchanging memorandums.)

Reference: Details of the cooperation plan with eight points

  1. Extending length of healthy living
  2. Developing comfortable and clean cities that are easy to live in and support active lives
  3. Fundamentally expanding exchanges and cooperation among small and medium-sized companies
  4. Energy
  5. Promoting industrial diversification and enhancing productivity in Russia
  6. Developing industries and export bases in the Far East
  7. Cooperating on advanced technologies
  8. Fundamentally expanding people-to-people exchanges.

Related Information

 
Last updated: 2016-10-13
Ministry of Economy, Trade and Industry
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