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The two leaders instructed their Governments to study the economic projects to be signed, in order to boost cooperation in geological prospecting, precious metals mining and processing, hydro power generation and other spheres.

Mr Putin and Mr Zenawi also discussed the international situation, including regional conflicts. They talked about the two countries’ interaction in the United Nations.

The Russian President said he was satisfied that Ethiopia had fully repaid its debt to Russia this year.

The two leaders signed the Declaration on Principles of Friendly Relations and Partnership between Ethiopia and the Russian Federation in the wake of the talks.

They also supervised the conclusion of a series of bilateral agreements, including the cooperation agreement between education ministries, and the protocol on consultations between foreign ministries.

The Russian President and the Prime Minister of Ethiopia continued their discussion at lunch following the formal meeting.