Russia and Japan should speed up the development of trade and economic ties between the two states, Russian President Vladimir Putin said on Saturday.

The Russian leader said the two states had reached the pre-crisis trade of $30 billion, but it was not enough. As an example, he cited bilateral trade with China, which currently stands at $87 billion.

“We are convinced that the potential of Russia and Japan makes us think about what should be done to speed up the development of trade and economic ties,” Putin said at a meeting with Japanese Foreign Minister Koichiro Gemba.

Putin also invited Japanese Prime Minister Yoshihiko Noda to attend the Asia Pacific Economic Cooperation (APEC) summit in Vladivostok to be held on September 8-9.