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President of Russia Dmitry Medvedev: President Lee Myung-bak, Korean friends and colleagues,

I wish you a warm welcome to St Petersburg, where the Russian-Korean public forum has just ended and we will now hold bilateral talks.

Mr President, you just gave an outstanding speech on our countries’ relations. I think that Russian-Korean relations do indeed have a very bright future. We are moving ahead in all areas, whether in the economy, in our big international projects, or in new fields such as innovation and modernisation, and also humanitarian cooperation of course.

It is good to have this chance now to exchange views on regional security (this is an issue of paramount importance and we are ready for broad cooperation with the Republic of Korea in this area) and on the current situation in the global economy and financial system, all the more so as we will be leaving from here for Cannes to discuss global economic development issues.

”I think that Russian-Korean relations do indeed have a very bright future. We are moving ahead in all areas, whether in the economy, in our big international projects, or in new fields such as innovation and modernisation, and also humanitarian cooperation.“

Once again, I wish you a warm welcome to St Petersburg, Mr President.

President of The Republic of Korea Lee Myung-Bak (retranslated): As I understand it, St Petersburg is President Medvedev’s native city, and I also have a good personal connection to this city.

Since taking office as President, I have visited Russia every year, and have thus become the first president [of Korea] to visit Russia so often.

I am also very pleased to see the dynamic way our relations are developing in a broad range of sectors. I am very happy too that the agreements we concluded during our last meeting are now in the process of implementation.

Our cooperation is intensifying not just in trade and investment but in other areas too. I think that our countries, more so than other countries, can be the best of partners because we have mutually complementary organisations that we can develop on a mutually advantageous basis.

This explains our relations’ good development, all the more so as there are no issues between us. I hope that our governments will continue their utmost efforts to keep building up these relations in the future.

The world is currently facing a budget crisis, and I hope very much that our countries will also do their part to overcome this crisis.

I am very pleased to be having this meeting.

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