Conclusion of MOCs with four Russian organizations －Conveyance of enthusiasm toward close collaboration at business dialogue

December 2016

Taking the opportunity of a visit to Japan by Russian President Vladimir Putin on December 16, JETRO concluded memorandums of cooperation with four Russian organizations with the aim of promoting close collaboration between Russia and Japan in future business exchange. These counterparts of JETRO are the Federal Corporation for the Development of Small and Medium Business, an organization responsible for cultivating SMEs within Russia; the Agency of Technological Development of the Russian Federation, whose mission is to provide assistance to Russian companies in acquiring domestic and foreign technology; the Far East Investment and Export Agency, working on drawing investment into the region and facilitating export; and Roscongress, a foundation which organizes international congresses and exhibitions where the Russian president and key governmental officials take the podium.

Currently, the Russian government has been focusing its efforts on developing domestic industries and industrializing its own country with high-value added production, aiming to depart from heavy dependence on natural resources. Under such circumstances, the government is proactively conducting activities such as fostering SME, which constitute the base of Russian industry, and introduction of foreign technology. It is expected that new business chances for Japanese companies will be created as a result.

Progress has been made in both the public and private sectors regarding an eight-point economic cooperation proposal which was made by Japan to Russia at a summit meeting in May 2016. As one of the proposal items, JETRO will play a stronger contributive role primarily in cooperation to dramatically boost business ties between Japanese and Russian SMEs and to promote diversification of Russian industries and improve their productivity. Specifically, JETRO is planning to organize the Japan Pavilion at Innoprom, a comprehensive industrial trade fair to be held in Ekaterinburg in July 2017 and a business matching event for Japanese makers in Russia and local suppliers.

JETRO will take advantage of the conclusion of these MOCs to invest greater efforts in developing economic ties between Russia and Japan.

In the Russia-Japan Business Dialogue held at Keidanren Kaikan in Tokyo on December 16, hosted by Keidanren (the Japan Business Federation), JETRO Chairman and CEO Hiroyuki Ishige spoke as a panelist. In a separate meeting hosted by the Japan Association for Trade with Russia and New Independent States (NIS) at the Hotel New Otani, the following key figures of JETRO took part: President Yasushi Akahosi as a moderator, Executive Vice President Koji Yonetani as a moderator and speaker, and Director-General Tatsuya Kato of the Trade Fair Department as a speaker.

Regarding cooperative activities aimed at dramatically boosting business ties between Japanese and Russian SMEs included in Japan's eight-point proposal, Chairman Ishige conveyed his enthusiasm toward developing economic ties between Russia and Japan. These include holding seminars within Japan to disseminate information on Russian business, encouraging Japanese companies to visit Russia and join the trade fair Innoprom, and creating opportunities to interact with Russian companies through individual support provided by Russian business experts. During the separate meeting, Director-General Kato introduced JETRO’s activities in helping Russian industries diversify and improve their productivity, such as a business matching event held this August in Moscow geared toward Japanese car makers operating in the country and local suppliers as well as the trade fair Innoprom.