Relations between Russia and Japan have great potential, everything must be done in order to sign a peace treaty, Japanese Foreign Minister Taro Kono told reporters on Friday following the results of the Russian-Japanese inter-governmental commission, RIA Novosti reported.

"I want to stress again that our relations have great potential. We need to completely unleash them and to increase the quality of bilateral relations repeatedly,” Kono said. 

"I am ready to make all the efforts to develop Japanese-Russian historical ties," he added.