Japanese Izumi Boeki Preparing to Place Order Worth USD 80 Million on Chuvashia Factory

President of the Chuvashia Republic Nikolai Fedorov met President of Japanese firm Izumi Boeki Mitsui Yeda on Wednesday, February 5. As Mr Fedorov's press office informed a Rosbalt correspondent, the Japanese delegation is currently holding negotiations in the republic about placing an order for transponders (automatic identification systems) used for controlling ocean shipping. Japan's potential partner is the factory Elara in Cheboksary.

A Russian trade representative in Japan Robert Ruzanov has said that successful talks will guarantee new jobs in the factory and the republic as well as new orders worth around USD 80 million over 2003 and 2004.

At the meeting with his Japanese guest Mr Fedorov said, 'The Chuvashia leadership supports economic policies which bring us onto the international market and increase the export potential of Chuvashia enterprises.' He added that in this respect the Japanese project in Chuvashia has 'good prospects.'