Some diplomats and analysts have taken Putin's proposal with a grain of salt. The Japanese leader has said a deal would unlock trade and investment from Japanese companies for Russian Federation, which is isolated from Western investment because of sanctions.
Meeting Abe on the sidelines of the forum in Vladivostok two days earlier, Putin had told the Japanese prime minister that "it would be naive to think that it can be resolved quickly".
President Vladimir Putin suggested Wednesday that Russian Federation and Japan sign a peace treaty this year, ending World War II hostilities "without any preconditions" as a territorial dispute has led to decades of deadlock.
In the past, Russian Federation and Japan have proposed initiating various joint economic projects on the disputed islands as a first step in resolving the conflict.
"Let's conclude a peace agreement, not now but by year's end without any preconditions", Putin said, with the audience breaking into applause.
As Donald Trump continues to up the ante on a trade war, with the U.S. president recently threatening to place tariffs on all Chinese exports to the United States, Beijing is moving to further solidify its already-close partnership with Russian Federation.
This is not Putin and Xi's first foray into batter-based cooking. And a senior Japanese official sniffed, according to the Japan Times, that Putin's apparently off-the-cuff remark was "unofficial." . Chief Cabinet Secretary Yoshihide Suga called the move "extremely disappointing". Putin added, "It seems to me that this would facilitate the solution of all problems which we have not been able to solve during the past 70 years".
China's Global Times newspaper said China and Russian Federation could "create a vital influence" when the two countries worked together.
More than 6,000 delegates visited the Fourth Eastern Economic Forum with 100 business events, Trutnev told.
The Japanese prime minister agreed that both states should aspire to reach such a deal in the future.
Establishing its sovereignty over the islands is the crucial issue for Japan, so it would be unlikely to sign a deal without first receiving some assurances from the Kremlin over the fate of the islands.
Trade turnover between Russian Federation and China increased 50 pe cent in the first half of 2018 with the total expected to reach $100 billion by the end of the year.
TASS noted that the "Asian investment fund" GenFund was investing in the Far Eastern projects of a Russian Federation agro-holdings firm and in a fertilizer plant.