Russia and Japan to Create Marine Agro-Fund

PHOTO by Depositphotos

Yuji Yamamoto, Japan’s Minister of Agriculture, Forestry and Fisheries, proposed to create a joint Russo-Japanese agro-business platform in the Far East, according to the Ministry for Development of the Russian Far East. Russia sees the platform as a joint agro-fund that could benefit from putting to use marine resources.

The Japanese minister announced the proposal during a Tokyo meeting with the Minister for the Development of the Russian Far East, Alexander Galushka.

Galushka noted that the platform “will include regional representatives of the Russian and Japanese businesses, financial institutions, educational and research organisations.”

Russia in turn put forward to the Japanese colleagues a proposal to establish a Russo-Japanese marine bio-resources agro-fund, which can become the core of the platform.

The agro-fund can adopt some provisions set forth by the Far East Agency for Investment and Export and the Japan Bank for International Cooperation, or JBIC, to attract Japanese business to free trade areas and Vladivostok, stated the Ministry.

Parties in the talks agreed on regular working contacts and discussions at the executive level.