Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

World

Putin in Japan for talks

TOKYO, May 12 –  Russia\’s Premier Vladimir Putin kicked off a visit to Japan on Tuesday expected to lead to several business deals and a pact on nuclear power cooperation, despite a lingering territorial dispute.

The former Russian president, travelling with a high-powered delegation, was in Tokyo to meet corporate chiefs, regional governors, two former premiers and the opposition leader before holding talks with his counterpart Taro Aso.

Russian officials warned before the visit that Tokyo should not expect a breakthrough in a territorial dispute that has plagued relations since World War II and has prevented the neighbours from signing a peace treaty.

Putin\’s deputy chief of staff, Yury Ushakov, cautioned against "inflated expectations" in the dispute over what Japan calls the Northern Territories and Russia refers to as the Southern Kurils.

Moscow believes the historic dispute should not get in the way of stronger economic relations, including the transfer of Japanese cutting edge technology to Russia and the flow of Russian oil to energy-poor Japan.

Putin told a meeting of regional governors from both countries Tuesday that "regional cooperation is an important factor which can stimulate economic development, help overcome the consequences of the global economic crisis".

Closer ties "will help to create a favourable atmosphere for joint projects… (and) create new jobs, which is especially important now".

Japan and Russia were scheduled to sign several official agreements, including a pact to promote the non-military use of nuclear power which would pave the way for Japan to export nuclear power plant technology to Russia and for Russia to sell more nuclear fuel to Japan.

They were also due to sign commercial deals, including on cooperation in banking and in hydro and wind-power plants, Russian officials said.

Advertisement. Scroll to continue reading.

The Nikkei reported that both countries were expected to sign a deal as early as Tuesday to jointly develop two major oil fields, holding up to several hundred million barrels, in the central Irkutsk region of Eastern Siberia.

The government-run Japan Oil, Gas and Metals National Corp. was expected to take a 49 percent stake, while Russia\’s Irkutsk Oil Co. would take the remainder, the Nikkei reported, citing unnamed sources.

On a lighter note, Putin, a judo black belt, was to unveil a Japanese language version of his book on the sport alongside Yasuhiro Yamashita, a world judo champion with whom Putin has also recorded a video manual.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...