Vladimir Putin's address:

Ladies and gentlemen,

We have just held the meeting of the Russian-Brazilian high-level commission on cooperation. It took place in a businesslike and friendly atmosphere.

I'd like to emphasise that Brazil is a strategic partner for Russia, and we have maintained a traditionally friendly dialogue. We actively cooperate in politics – in the UN, the G20 and BRICS.

Economic ties are steadily developing. Last year our trade increased by 28% reaching almost $6 billion and our next goal is to increase it to $10 billion.

We are actively cooperating in fields such as energy (including nuclear power), space exploration, metallurgy, biotechnology and telecommunications.

Joint work in space exploration is also very promising. Specialists from both countries are working to upgrade the Brazilian launch vehicle VLS-1, modernise the Brazilian space port and cooperate on a telecommunication satellite. We are interested in Brazil's active involvement in the Russian navigation system GLONASS.

Great opportunities are opening up in the metallurgical industry, where our companies Mechel and Severstal have become the co-owners of large stocks of shares and whole companies. Such projects have not only economic but also social significance. I'm referring to the construction of new enterprises and the development of the existing ones. This makes it possible to create new jobs and increase tax revenues to the different levels of the Brazilian tax system.

Gazprom's cooperation with the leading Brazilian energy company Petrobras may also be promising. We have paid much attention to financial cooperation, including the use of national currencies in reciprocal payments.

Last year we agreed on visa-free travel for our citizens. The Russian airline Transaero began direct flights from Moscow to Rio de Janeiro.

Brazil and Russia will hold major international sports competitions in the next few years. In 2014, we will host the Winter Olympic Games in Sochi, and Brazil will host the Summer Olympics in Rio de Janeiro in 2016. Brazil will host the FIFA World Cup in 2014 and Russia in 2018. We have agreed to exchange information and help each other in organising these major international competitions.

In 2012-2013, we will hold the Days of Brazilian Culture in Russia and the Days of Russian Culture will be held in Brazil.

We think that the development of our cooperation in education is also very important. We will look for opportunities to mutually recognise diplomas of higher education. I'd like to thank the vice president for the productive discussion of all the aforementioned issues and express the hope that Brazil and Russia will develop their relations as intensively and steadily as we did in the past few years.

Thank you.