Transcript of the beginning of the meeting:

Vladimir Putin: Good afternoon, glad to see you.

Recep Tayyip Erdogan: It's a pleasure to be here. We often watch you on TV.

Vladimir Putin: We often watch you, too. We have seen how complicated your domestic political processes were.

I would like to congratulate you that the situation is obviously beyond the crisis now. In my opinion it could not have been otherwise, taking into account such level of support that you personally and your party have from the population of Turkey. It is important for Russia, because Turkey has been a reliable and stable partner, and a good neighbour over many years. Our trade volume has been growing steadily, and our relations in many different areas have become stronger. That is why political stability of such a partner is indeed of the utmost importance for us.

Welcome to Moscow, we are glad to see you.

Erdogan: Thank you for your welcome in an extremely difficult period like this.

In the past five years the relationship between the Russian Federation and Turkey have been developing steadily and positively. There are positive shifts in many fields such as politics, economics, tourism, and defence cooperation.

It is well-known that today the Russian Federation is a Number One trade partner for Turkey. In terms of tourism the Russian Federation is also becoming the Number One partner. It naturally contributes to the rapprochement between our countries' population. Friendship between our countries is strengthening. I would like to emphasize our great satisfaction on this score. I hope this cooperation will grow stronger in the future.

We believe this meeting, in the course of which we will have the opportunity to discuss the situation in South Ossetia, will also make a weighty contribution to the situation in our region. Turkey is ready to render every help necessary.

I would like to say once again how happy I am to meet you. Thank you very much.

Vladimir Putin: Thank you very much.