Transcript of the beginning of the meeting:

Vladimir Putin: Mr President, distinguished colleagues, we are very glad to welcome you to Moscow.

I know that tomorrow you and Speaker of the State Duma of Russia Boris Gryzlov will sign an agreement on cooperation between the United Russia party and the Democratic Party of Cyprus. This, of course, will be a considerable step forward in relations between our two countries' governments and parliaments.

Relations between Cyprus and the Russian Federation are based on long-standing traditions and continue to develop successfully. The legal base for cooperation between our countries is being strengthened. Quite recently, on October 8, the Government of the Russian Federation approved a protocol for an intergovernmental agreement that would protect capital investment. I think that the ratification of this agreement by both countries will make our economic cooperation even more transparent.

Our economic cooperation is also making progress. Nevertheless, as with our other partners during the financial crisis, we have seen a certain drop in trade volume. But I am confident that trade volume will be restored.

We are very glad to see you, welcome.

Marios Garoyian (as translated): Thank you. This opportunity to meet with Prime Minister Putin is a distinctive honour for us.

Before I tell Mr Putin what I would like to tell him, I would like to say that he is the most popular foreign politician in Cyprus.

Some people thought that when Mr Obama was elected President of the US, he would become more popular than Mr Putin, but it didn't turn out that way. Mr Putin continues to be first in terms of popularity.

I would like to take this opportunity to once more express the gratitude of the people of Cyprus to the Government of the Russian Federation, the Russian people, and the State Duma, for the Russian Federation's principled, value-based policies.

During the most difficult times of modern history, the Russian Government, the Russian people, the State Duma, and all the citizens of Russia supported the people of Cyprus at a time when others had abandoned them.

Therefore, we thank you from the bottom of our hearts, and we hope that the Republic of Cyprus, which is small in size, will be able to contribute to furthering the interests of the Russian Federation. This includes within the context of the European Union, where we will promote the interests of Russia and cooperation between our two countries.