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These plans are stated in the joint declaration approved following talks between President Vladimir Putin and Portuguese Prime Minister Pedro Santana Lopes.
The declaration notes in particular the mutual interest in establishing a partnership between the Russian and Portuguese business communities. Both countries favour setting up joint business organisations to develop trade and economic cooperation.
Mr Putin and Mr Santana Lopes said that Russia and Portugal could become involved in carrying out trilateral projects with Latin America and other regions in the world.
November 23, 2004