Japan, Russia agree to boost ties, eye LNG project
11/14/2011 12:00:00 AM
Japan and Russia signed a memorandum of understanding Saturday aimed at boosting economic relations between the two countries in broad areas including energy, high technology and health care.
The non-binding agreement was signed by Japanese Trade and Industry Minister Yukio Edano and Russian Economic Development Minister Elvira Nabiullina, on the sidelines of the Asia-Pacific Economic Cooperation forum.
The agreement envisages cooperation in areas beneficial to each other. In the energy field, Japan will help Russia to develop energy-efficient technology, cogeneration solutions and green technology.
The two ministers also agreed to work together in a project to build a liquefied natural gas (LNG) plant in Vladivostok, Russian Far East, for natural gas produced in the island of Sakhalin.
Edano welcomed a deal that has allowed Russia to join the World Trade Organization. Nabiullina said that tariffs on Japanese automobiles will be reduced over time in line with the WTO guidelines.
Dow Jones Newswires
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