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The Russian leader cordially thanked the massive Canadian delegation comprising of the Prime Ministers, 12 Canadian provinces and territories, 300 businessmen and ice hockey players. Mr Putin said these people determined Canada’s place in the world and the direction of its political and economic development.

President Putin said he wanted the Canadian business community to be on Russia’s side, and that the sale of cheap and top-quality Russian goods on the Canadian market was in the interests of both countries. He also pointed out that the Canadian market was now virtually closed to Russian steel manufacturers.

Vladimir Putin discussed international politics and once again said entire nations must not be blacklisted.

The Russian President said it was essential to improve the socio-economic environment, to overcome poverty and backwardness and to eliminate the negative consequences of globalisation.

The Russian leader supported the efforts of Canadian Prime Minister Jean Chretien to discuss the problems of poor countries, including those of Africa, at the upcoming G8 summit in Canada this year.

The Canadian and Russian business elites met at the Luzhniki Sports Complex, where Soviet and Canadian ice hockey select teams had played against each other in a history-making match 30 years ago.

The Canadian Prime Minister said Team Canada had been established in accordance with this team’s spirit.

Both leaders received official 2002 Olympic T-shirts with their names printed on them from Russian and Canadian ice hockey veterans.

Over 70 agreements worth more than $650 million stipulating expanded cooperation in the sphere of education, regional projects, fuel and energy, environmental protection, etc. were signed prior to the meeting in Luzhniki.