Seko will be tasked with fleshing out the eight-point economic cooperation proposal Abe presented to Putin at the leaders’ meeting in Sochi, southwestern Russian Federation, in May.
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Output was flat month-on-month in July following a rise of 2.3% in June, the Ministry of Economy, Trade and Industry said Wednesday.
He is reportedly to discuss with Putin an eight-point economic cooperation proposal, in the hope that it would create an atmosphere for realizing Putin’s visit to Japan by the end of this year and advance talks with Kremlin on a territorial dispute involving four Pacific islands.
Tokyo-Moscow relations have been hamstrung by the dispute over the islands in the Pacific, known as the Northern Territories in Japan and the Southern Kuriles in Russian Federation, which the Soviet Union seized after it declared war on Japan on August 8, 1945.
The move is part of the government’s efforts to strengthen its economic alliance with Russian Federation.
Russian President Vladimir Putin chairs a State Council Presidium meeting on measures to make Russian rehabilitation, spa and resort establishments more attractive investment projects in the town of Belokurikha on August 26, 2016.
“The amount of trade and investment between Japan and Russian Federation is still very low, despite being neighbouring countries and having the potential to accomplish many things if we mutually cooperate on a range of levels”, Seko said.
Marcel Thieliant, senior Japan economist with Capital Economics, said the latest data “suggests that the jobless rate will fall below 3% before long”.
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“Not everything in the [eight-point plan] can be accomplished immediately, so we will give shape [to the plan] in order of what can be done”, he said.
