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Addressing the Forum the Russian President stressed the important role Russia and Ukraine play in ensuring Europe’s energy security. He said the combination of Russian energy and Ukrainian transportation lines contributed in an important way to energy supplies to European countries.

In Mr Putin’s opinion, it is important to take advantage of the fact that the two economies are interconnected. He said that Russia wanted to see an affluent and prosperous Ukraine, and not only because Ukraine was a genuinely fraternal country, but because it would also benefit Russia.

Mr Kuchma said that Russia had for a long time been and remained Ukraine’s main strategic partner. He thinks not all the potential of the two states has been tapped. He encouraged the Russian investors to come to the Ukrainian market.

The forum was attended by more than 500 representatives of the business community in the two countries.

Mr Putin and Mr Kuchma attended the signing of an agreement on the building of reactors at the Khmelnitskaya and Rovno nuclear power plants.

The two leaders held a joint press conference devoted to the results of the Russian-Ukrainian Economic Forum.

Most of the questions asked by journalists concerned economic cooperation, the agreement on nuclear power plants and the impact of the upcoming elections in Ukraine on the bilateral relations.