Transcript of the beginning of the meeting:

Vladimir Putin: Mr President, ladies and gentlemen! I am pleased to meet with you here in Moscow.

Vaclav Klaus: There’s no need to translate for us. We understand everything. Maybe just help us a bit.

Vladimir Putin: Excellent! I am pleased to note that despite the 38% decline in our trade and economic cooperation last year, we are steadily overcoming these difficulties. In the first nine and even eight months of this year, growth was 32%, so we can definitely reach pre-crisis levels by the end of the year.

We have very good prospects in the energy sector, industry, the financial sector, and transport. We are glad to see you and to have an opportunity to discuss all aspects of our relations. Welcome!

Vaclav Klaus: Thank you very much. I’m glad we have this chance to meet. I was invited to Moscow by a group of Russian bankers. I will give a speech to them this evening. It’s fortunate that I am able to meet with you as well.

I was last here in May, on May 9, to be exact. We had a brief conversation over lunch.

Vladimir Putin: Right.

Vaclav Klaus: As an economist, I am familiar with these data. Very serious. I hope the decline is a result of what happened in the world in 2009. Hopefully things will get better.   

We have a meeting tomorrow organised by the Czech Export Bank. That’s why I’m here. The meeting will include a wide variety of Russian entrepreneurs, about 10 or 15 governors and several presidents. And I promised to be there, too.

I believe it is in the best interests of both countries to develop our economic and other relations. This is the main point I would like to make: there are various projects, and Mr Putin is aware of many opportunities existing in infrastructure, the power industry and so forth. We are prepared to make steps in this direction.

Vladimir Putin: The intergovernmental commission, whose Russian delegation is headed by Mr Zhukov, is working diligently. I will ask him to speak about how work is proceeding on the ground.