19 December 2016, 12:27 GMT
MOSCOW (Sputnik) — The Kuril Islands are the subject of the long-standing territorial dispute between Russia and Japan. Japan lays claims to Kunashir, Iturup, Shikotan islands and the Habomai group of islets. The territorial dispute has prevented Russia and Japan from signing a peace treaty after World War II.
"The agreement was reached to hold in March this year in Tokyo the first round of bilateral consultations on issues of joint economic activities on the South Kuril Islands," the statement said.
On December 15-16, 2016, Putin visited Japan to meet Prime Minister Shinzo Abe. The sides agreed to establish joint economic activities on the disputed islands in order to create favorable conditions for talks on a peace treaty between the countries.
