Russia, Japan to bolster economic ties

JAPAN: Russia and Japan are set to sign a parcel of agreements on Tuesday including oil and nuclear energy deals as they stress business ties over a long-running dispute over some offshore islands.

Russian Prime Minister Vladimir Putin, travelling in Tokyo with 100 company executives, will attend a business forum and later meet Japanese Prime Minister Taro Aso for talks on boosting trade and investment.

Despite the territorial row, which has prevented the two sides from signing a peace treaty for World War Two, economic ties have flourished as Japan eyes Russia's growing consumer market and its booming oil and gas industries.

Russia, facing a recession after a decade-long boom, is also eager for Japanese investment to develop its Far East region. "Regional cooperation is an important factor which can stimulate economic development, help overcome the consequences of the global economic crisis," Putin told a meeting of regional governors from both countries.

Tokyo,Tuesday, Reuters