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Trade Boost with Japan

Russia is going to boost trade with Japan for up to $30 billion USD.

During the meeting of Russian government representatives in Moscow with Japanese counterparts it was noted that the trade between Russia and Japan has grown by 20% or up to $20 billion USD last year.

The Economic Development Minister, Maxim Oreshkin, told journalists that “we are determining the categories of goods and commodities which could be the prospects of increasing supplies”.

As far as the Russia – Japan economic relations are concerned, Moscow and Tokyo are planning to develop different sectors like tourism, technology and infrastructure, and make the respective investments. The Russian Minister also said that Russia is going to abolish visas, the circumstance that would be very significant in terms of mutual cooperation and would immediately increase the stream of tourists and raise the level of tourist services.

At the moment the two countries are completing a whole series of test deliveries of Japanese products to the Western and European market via BAM (Baikal Amur Mainline) and TransSib (Trans-Siberian railroad).

Currently there is a negotiation about a number of large infrastructure projects, including the North Sea Route that lies within Russia’s exclusive economic zone.
In 2020, Japan and Russia performed several test shipping rounds delivering Japanese goods to Russia using a sea link and the Trans-Siberian Railway.

According to the Japan’s Deputy Minister of State Lands, Infrastructure, Transport and Tourism, Toshihiro Matsumoto, the Russia’s transport artery of 9,289 km (5,772 miles) long, has a great reserve for development and trade between the two countries.

At the moment, Japan and Russia are trading goods using sea shipping and air flights. In order to ship any freight from Japan to Russia it normally takes up to 65 days as it is shipped via the Indian Ocean. The use of air-cargo makes freight transport much faster but still costly. Now the new freight route via the Trans-Siberian Railway will significantly reduce the transportation time between the two countries and cut the costs by around 40%.

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