Russian President Dmitry Medvedev and his South Korean counterpart Lee Myung-bak pledged Monday to boost bilateral trade and economic ties.
"Bilateral trade grows considerably, we speak about a multifold growth ... We will also take steps to optimize bilateral trade," Itar-Tass news agency quoted the Russian head of state as saying following talks with Lee in the Kremlin.
Medvedev hailed Russian-South Korean cooperation in such sectors as energy, transport and construction, saying bilateral trade will total 20 billion U.S. dollars this year.
A joint statement adopted after the talks said that Moscow and Seoul have agreed to liberalize bilateral trade, while South Korea supports Russia's strive for World Trade Organization membership and Russia welcomes South Korea's involvement in its oil and gas industry.
"The sides will interact closely for the sake of successful development of hydrocarbons on the Russian continental shelf, including that in West Kamchatka," the statement said.
Russia and South Korea will also continue cooperating in implementing the project to link the Trans-Korean and Trans-Siberian railways, it said.
Source: Xinhua
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