Japan joined the group of Russia"s ten largest...

"In 2009, the volume of Japanese investment in Russia doubled to $8.3 billion," Khristenko said at a meeting between the heads of Russian and Japanese regions.

Khristenko said that although bilateral trade hit a record $30 billion in 2008, it contracted more than 50% last year due to the global economic crisis.

The minister said both countries needed to continue developing cooperation in such large areas as energy efficiency, pharmaceuticals, medical equipment and outer space.

The development of business relations between Russia and Japan is hindered by the absence of a peace treaty between the two countries.

Tokyo"s continued claim over four South Kuril Islands (Iturup, Kunashir, Shikotan, and Habomai) has so far prevented Russia and Japan from signing a formal peace treaty to end World War II hostilities.

MOSCOW, May 2 (RIA Novosti)