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MINPROMTORG and JBIC Discussed Prospects For Implementing Russian-Japanese Projects In Industry

 The Ministry of Industry and Trade of Russia held a working meeting between Deputy Minister Vasily Osmakov and the Director of the Machine-Building and Investment Engineering Department Mikhail Ivanov with representatives of the Bank of Japan for International Cooperation (JBIC).

The Bank of Japan for International Cooperation (JBIC) was established as an export-import bank of Japan in 1950. The organization has been active in Russia since 1992, after the opening of its Moscow office. At present, the capital of the state-owned Bank is 15 billion US dollars. His main mission is to support private Japanese business abroad.   

During the meeting, the Senior Managing Director of JBIC, Tatsuhiko Takesad, spoke about the current activities of the Bank, the investment activity of Japanese business in Russia, and the creation of a Russian-Japanese investment fund in conjunction with the RFPI.

Vasily Osmakov stressed that the ministry traditionally pays great attention to cooperation with Japanese colleagues. So, last year Japan became the partner country of the international industrial exhibition "Innoprom" in Yekaterinburg. Between the two countries, many joint projects have been successfully implemented in the automotive industry, machine-tool construction, oil and gas engineering and other industries.

We are interested in increasing the number of Russian-Japanese projects, focused primarily on the development of export supplies to third countries. Among the most promising areas of cooperation - aviation, automotive industry, machine tools and component parts for various engineering industries

noted Deputy Minister of Industry and Trade of Russia.

The meeting participants also discussed the potential cooperation of JBIC with the Industrial Development Fund in support of projects of medium-sized industrial enterprises. Representatives of the Bank told the Russian side that all initiatives and proposals voiced during the meeting will be submitted for further consideration to Japanese companies.     


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