The two officials discussed DeLaval’s cooperation with Russian companies producing and processing milk and dairy products.

The meeting participants approved the November-December 2008 report by the Fund’s executive director. The Fund was registered and began operation in accordance with established procedure.

Mr Ivanov said the Government had adopted a series of decisions to support and promote development of the air traffic control system in the country, in particular by approving federal targeted programmes.

At the meeting, Vladimir Putin and Yevgeny Primakov discussed the performance of the Chamber of Commerce and Industry during this year.

Mr Sechin said that “if the oil prices on the global market maintain their current level, the Russian oil sector will have to cut supplies by 16 million tons annually or 320,000 barrels per day next year, as well as reduce investment, which may result in a more radical curtailment of production in the near future.” According to him, the implementation of such forced measures could have lasting consequences.

"We have discussed on a number of occasions the need to optimise and increase the efficiency of budgetary expenses. We have allocated huge funds for priority national projects, and they should work with maximum efficiency - to both address social problems, and, which is of vital importance under the current circumstances, to stimulate demand in the economy."

Mr Zubkov and Mr Rodrigues exchanged opinions on the global financial markets and discussed the various aspects of Russia-FATF interaction, also through the Eurasian Group on combating money laundering and financing of terrorism (EAG).

Speaking at the ceremony, Mr Ivanov said, in part, that military exports would exceed $8 billion in 2008. The Russian defence industry has showed positive trends in recent years, as confirmed by Russian producers’ advance into new foreign markets.

"The entire national economy is under that burden, and it should be distributed between all branches more or less evenly. Still, we should make agriculture an exception, as in previous years, to ease pressure on it. We have agreed to subsidise 80% of agricultural credit refinancing. <...> It is necessary to regulate the grain market. For that, the Agriculture Ministry should greatly increase the effect of purchasing interventions. With that end in view, we have agreed to increase the authorised capital of Rosselkhozbank once again-by 45 billion roubles this time, after this year's recent 35 billion roubles."