Nigerian President Umaru Yar'Adua and his Russian counterpart Dmitry Medvedev have expressed satisfaction over the progressive growth in bilateral trade between the two countries.

According to a communiqué issued early Thursday morning when Russian President ended his visit to Nigeria, the two leaders underlined the necessity for increase in the turnover of goods between the two countries.

They stressed the need for the promotion of direct contacts between Nigerian and Russian institutions, agencies and companies.

The two presidents underlined their firm intention to broaden economic ties, in particular cooperation in the spheres of energy, metallurgy, oil and gas production.

The two leaders noted the importance of developing bilateral cooperation in the humanitarian and cultural spheres.

During their talks, they reviewed key regional and global issues, noting that Nigeria and Russia share similar views and approaches on the issues of international peace and security as well as sustainable development.

The two leaders also underscored the need for a more democratic system of international relations that took into account the interests of all countries, based on multi-polarity and international law.

They affirmed the importance of the reform of the UN based on consensus in order to increase its effectiveness and response to represent global problems and challenges.

With respect to the current global financial and economic crisis, the two leaders stressed the necessity to intensify efforts aimed at shaping a new international financial system with the active participation of the whole international community including African countries.

The two presidents called for the deepening of constructive dialogue and cooperation between their countries, which were among the leading oil-producers in the world and were naturally partners on energy.

They also reviewed the problems of promoting sustainable social and economic development of the African continent.

They paid special attention to the issue of peacekeeping as well as to conflicts prevention and resolution on the African continent.

The communiqué added that the two sides emphasized on the necessity for effective international crisis management assistance to Africa.

Medvedev paid tributes to Nigeria's role in international affairs, especially in Africa, where the country had made great contributions in promoting stability and security.

Yar'Adua on his part praised Russia's role in the promotion of sustainable social and economic development of African countries, especially in the prevention and resolution of crisis situations in the continent.

He called for further Russian assistance in dealing with the challenges confronting Africa.

The Russian president extended invitation to Yar'Adua to visit Russia and the invitation was accepted. The communiqué said the date of the visit shall be determined through normal diplomatic channel.

The two countries signed six Bilateral Agreements covering cooperation in the fields of nuclear energy and outer space for peaceful purposes, among others.

The agreements signed included Investment Promotion and Protection Agreement (IPPA) and Transfer of Persons Sentenced to Imprisonment, Legal Cooperation between the Nigerian and Russian Ministries of Justice, and Memorandum and Articles of Association on Joint Venture between NNPC and GAZPROM.

Nigeria's Attorney-General and Minister of Justice, Michael Aondoakaa (SAN) and the Russian Minister of Justice, Alexander Konovalov, signed the agreements on Legal Cooperation and Transfer of Persons Sentenced to Imprisonment on behalf of their countries.

Medvedev, however, challenged Nigerians to take advantage of their tribal, cultural and traditional differences in fostering unity and progress of the country.

Speaking at a Presidential Banquet organized in his honor by the Presidency in Abuja on Wednesday, Russian president assured that his country would continue to serve as a reliable business partner to Nigeria, noting that the six Bilateral Agreements signed between Russia and Nigeria would be fully implemented for the benefit of the two countries.

Source: Xinhua