Russia, Japan eye closer economic ties

Updated: 2012-07-29 03:42

(Xinhua)

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MOSCOW -- Russian President Vladimir Putin said Saturday that Moscow and Tokyo should strengthen economic cooperation between the two countries.

Among areas of cooperation, auto industry and energy sector should be given priority, Putin said, adding that a number of Japanese car manufacturers intended to enter the Russian market.

During his meeting with visiting Japanese Foreign Minister Koichiro Gemba in the Black Sea resort of Sochi, Putin called for Russian-Japanese auto manufacturing projects and other joint projects to be implemented, the Kremlin press service reported.

"I would like to assure you that we shall do everything to make sure our Japanese counterparts are not disappointed and happy with their work in Russia," Itar-Tass news agency quoted Putin as saying.

Meanwhile, the two sides have been working closely in the energy sector, thus the future of energy cooperation is also positive, Putin noted. A good example of close energy ties is that Russian natural gas has covered a share of ten percent in the Japanese market, said the president.

Trade volume between Russia and Japan has reached the pre- crisis level of $30 billion, but "this is not too much, " Putin said, as compared with the trade turnover between Russia and its largest neighbor China.

"I am sure the opportunities of both Russia and Japan make us think what can be and should be done to develop much rapid trade and economic relations," Putin said.

Gemba, for his part, said Japanese Prime Minister Yoshihiko Noda has taken the relations with Russia as Japan's main priority. Both sides recognized the huge potential of bilateral economic cooperation, said Gemba.

Putin also invited Noda to attend the summit of the Asia- Pacific Economic Cooperation (APEC) to be held this September in Russia's Far Eastern city of Vladivostok, said the Kremlin.

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