At a meeting with Ukrainian President Viktor Yanukovych, Prime Minister Vladimir Putin said that bilateral trade between Russia and Ukraine had returned to pre-crisis levels. Mr Putin said that the two countries' partnership "in high-tech industries like aircraft manufacturing and space" was particularly welcome, and noted the significant progress in the Russian-Ukrainian joint An-70 aircraft project and other similar projects. The two leaders also emphasised that Mr Putin's visit came on the eve the Russian Navy Day, and the prime minister said that "both Russian and Ukrainian sailors" would attend the celebrations for this holiday.

Transcript of the beginning of the meeting:

Viktor Yanukovych: You have come to Ukraine on the eve of Russian Navy Day.

Of course, as you and I have said before, Ukraine and Russia must unite in our efforts to build up our economies, and this is impossible without the creation of specific mechanisms.

That's why today I'd like to look at the decisions we will make this fall. As we agreed, we will hold a meeting of our intergovernmental commission somewhere on the southern Russian coast. Our subcommittees have developed a number of proposals that have to be addressed at the government level. Two days ago, I met with Ukrainian Prime Minister Mykola Azarov, who has prepared reports on a number of issues I would like to discuss with you.

I also hear you were at the motorbike festival.

Vladimir Putin: Yes, I was.

Viktor Yanukovych: Bikers are people who like to express their emotions in a unique way, which is very good. The festival has attracted enthusiasts from both Ukraine and Russia, as well as other countries. I heard that you also rode a motorcycle...

Vladimir Putin: That's right. I took a little spin around Crimea.

Viktor Yanukovych: It's great to relive one's youth. Welcome, Mr Putin.

Vladimir Putin: Thank you very much. First, I would like to thank you for the invitation. I haven't visited Crimea in a while and it is interesting to see the changes here.

Second, we do have a lot of issues to discuss. As you know, we are in constant contact with Mr Azarov, and we are taking practical steps to resolve the economic issues facing our two countries.

I am very pleased to be here on the eve of Russian Navy Day. I have heard that you are going to Sevastopol tomorrow to attend the celebrations. I mentioned this during my talk with the bikers. It's great that our naval officers - both Russian and Ukrainian - will celebrate this holiday together. Thank you very much for your support.

I would like to convey the bikers' greetings and words of gratitude. I had an informal conversation with several of them after a short speech, and they asked me to give you their best wishes and words of gratitude. They understand that their rally creates addition work for the local and even central governments, especially since there are so many people in one place. Thousands have converged [in Sevastopol] from all over Europe.

Viktor Yanukovych: That's true.

Vladimir Putin: People have come from Western and Eastern Europe, which always means extra work for the government. The bikers themselves said that their interactions with the authorities had been very friendly, and they thank you for that.

As regards economic issues, there are issues to discuss, indeed. Despite a decline in 2009, trade between our two countries has returned to pre-crisis levels. There has been progress in many sectors, particularly in high-tech industries such as aircraft manufacturing and space. We have seen good results in the An-70 aircraft project, which we also discussed in detail with Ukraine's previous government and president. But now we hope to start up joint work on the An-148 aircraft project, as well as on projects to build engines for other airplanes and helicopters. A large percentage of the Russian helicopter fleet is powered by Ukrainian-made engines. Our work together in space holds also great promise. Energy too, of course, which we will discuss in more detail.

Viktor Yanukovych: Certainly. Thank you.