Vladimir Putin's opening speech: 

Vladimir Putin: My colleague and I have just discussed current issues relating to our cooperation in a limited-attendance session. First of all, I would like to note that the Mongolia-Russia relationship is growing. We are building up our unique history of cooperation, our tradition of friendship, and the good neighbourliness of our peoples in a creative way.

It is important that we develop our bilateral ties on reliable foundations. The Mongolian Prime Minister has just said that our bilateral trade stands at $1 billion 300 million, something we had only planned to achieve in 2010. Judging by this we are running ahead of schedule.

Today attention should be focussed on deepening the business and investment partnership between Russia and Mongolia. It is in our common interests that cooperation be broadened, and that production cooperation pushed forward. We need to fully diversify our bilateral ties, and decrease the role of raw commodities in our trade.

We suggest emphasising the promotion of major joint projects. First, this means those flagship businesses in our relationship such as: "Erdenet", "Mongolrostsvetmet" and the Ulan-Bator railway. My colleagues and I have just spoken about how, essentially, the outlook here is good, and we have drawn up some specific steps towards the future development of cooperation in these areas.

Of course, it is always in our interests to implement promising humanitarian, cultural and educational projects that can help take our relationship to a new level in these areas as well.

And I would like once again to return to where our meeting began, and what the Prime Minister spoke about. That is the 70th anniversary of our joint victory at Khalkhin-Gol River. The memory of these events, the memory of this page in our peoples' history will always unite Russia and Mongolia.

As a result of today's talks, a series of agreements will be concluded, and documents signed. First of all there is the memorandum of understanding between our Transport Ministries, and there is also a joint statement on agricultural cooperation. In addition, there is the proposed agreement on establishing a joint venture involving Russian Railways, and also an agreement between Aeroflot and the Mongolian airlines.

I am certain that these agreements will facilitate the future development of a Russian-Mongolian strategic partnership, primarily in trade, economics, and in investment.

We have already talked about our inter-governmental commission, which is working quite well, quite efficiently. If you permit, Mr Prime Minister, I would like to give the floor to my co-chairman in the Russian delegation, Minister of Transport Mr Levitin, who will give a more detailed account of what the commission has been doing, what it has achieved and what results are expected in the future.