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Japanese business in Russia to expand if peace treaty signed

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Japanese business will increase its presence in Russia if the two countries conclude a peace treaty, their leaders said Saturday.
STRELNA (near St. Petersburg), July 15 (RIA Novosti) - Japanese business will increase its presence in Russia if the two countries conclude a peace treaty, their leaders said Saturday.

Russian President Vladimir Putin and Japan's Junichiro Koizumi met in St. Petersburg ahead of a Group of Eight summit.

Russia and Japan have so far been unable to sign a peace treaty that would formally end World War II because of a dispute over four islands in the Kuril chain, which the Soviet Union claimed at the end of the war.

At a conference at the Foreign Ministry in June, Putin said, "In relations with Japan, the line toward continuing political dialogue and boosting economic cooperation is completely justified while maintaining a principled approach toward a peace treaty and a sincere desire to see it concluded."

Speaking at a joint news conference after his meeting with Koizumi Saturday, he said: "Contacts are continuing at all levels, including on the toughest issue - a peace treaty. This concerns the governmental, the ministerial and the parliamentary levels."

Automakers Nissan and Toyota are two of the biggest Japanese names currently working in Russia.

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