Russia and Japan signed more than 60 various deals in which Japan will invest over $2.5 billion during Russian President Vladimir Putin’s visit to the country, Japan’s Kyodo news agency reported citing a senior Japanese government official.

 

Japan, Russia business meeting

 

“The total value of Japan’s contribution in investment and loans, including through agreements between private sector firms, is around 300 billion yen ($2.54 billion),” the agency said, quoting Deputy Chief Cabinet Secretary Kotaro Nogami.

 

Economic cooperation agreements are based on the eight-point plan, put forward by Japanese Prime Minister Shinzo Abe during his meeting with Putin in Sochi on May 6. It includes contributions from the private sector, and is intended to boost cooperation in the energy sector, small- and medium-sized business and the industrial development of the Russian Far East. It also includes provisions on cooperation in high-tech industries, including nuclear energy, and humanitarian exchange.

 

“In the seven months since (I) proposed the cooperation plan, we have fleshed it out at a pace like never before, with the active participation and cooperation of related businesses in both countries,” Kyodo quoted Abe as saying at the outset of his talks with Putin.