MOU signed with OPORA RUSSIA
JETRO and the All-Russian Non-governmental Organization of Small and Medium Business (OPORA RUSSIA) signed a memorandum of understanding (MOU) toward further expansion of trade and investment between Japan and Russia. Through this MOU, both sides will support the growth of exports between the two countries and other related projects.
The documents were signed in Moscow on December 25 by JETRO President Satoshi Miyamoto and OPORA RUSSIA President Alexander Brechalov. They were later exchanged on the same day in the presence of Japanese METI Minister Toshimitsu Motegi and Russian Economic Development Minister Alexey Ulyukaev.
Through the MOU, both parties have pledged to the following:
- Cooperation in seminars and missions promoting business
- Informational exchange regarding the product and service markets of both countries
- Sharing information on activities of both organizations and success stories
- Cooperating in public relations such as through cross-linking websites
For many years automobiles have represented about 60% of Japan's exports to Russia, while its imports from Russia have centered on energy resources such as crude oil and natural gas. During a visit by Prime Minister Shinzo Abe last April, smart cities, agriculture and food and medical care were proposed by the Japanese side as other fields with potential outside of the automobile and energy sectors. Economic relations between the countries are expected to develop in the near future.