Transcript of the beginning of the meeting:

Vladimir Putin: Madame Minister, colleagues, I am pleased to meet you in Moscow. Thank you very much for finding the time to attend the event organized by our bank. And there will be one more event with Mr Zhukov today.

France is a principal partner to us. Unfortunately, last year trade between our countries plummeted by 22%. However, in the first half of this year it has already recovered and has shown a 36% growth, so by the end of the year it should reach a pre-crisis level.

I think that the Year of France in Russia and the Year of Russia in France are turning out quite well. More than 200 events have been held and we continue to have contact at the highest level possible. French President Nicolas Sarkozy recently visited St Petersburg and attended the World Economic Forum, and in December we are expecting a visit from Prime Minister François Fillon. Please, send my best wishes to the president of the republic and the prime minister.

Christine Lagarde (as translated): Thank you very much, Mr Prime Minister, for your reception. I often accompany both the French president and the prime minister, and I am glad to meet with you each time I visit. I would like to say that this year of cross-cultural exchange has provided an opportunity for holding a number of cultural events that the French population has enjoyed. And, at the same time, economic exchange has been growing. French investments in Russia have been made. I have mentioned such companies as L'Oreal, Peugeot, Lafarge, and, of course, they are sharing their experience with other French enterprises and companies. Alstom will be present today and the next few days in order to consider the possibilities available in the Russian market and to promote investment relations and partnerships.