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Mr Stoiber came to personally welcome Mr Putin at Munich’s airport.

During their talks at the Bavarian Premier’s residence, Mr Putin and Mr Stoiber discussed bilateral economic cooperation issues. Mr Stoiber called on Mr Putin to actively develop contacts in the high-technology sector, above all in medicine, energy and the aerospace sector, and also in areas such as trade, insurance and finance.

Mr Putin noted Bavaria’s leading role in developing Russian-German relations, including at regional level.

Mr Putin also informed Mr Stoiber on Russia’s position on the main issues on the international agenda.

The Russian delegation at the talks included Economic Development and Trade Minister German Gref, Education and Science Minister Andrei Fursenko, Information and Communications Minister Leonid Reiman, head of the Russian Union of Industrialists and Entrepreneurs Alexander Shokhin, head of Sberbank Andrei Kazmin, head of Vnesheconombank Vladimir Dmitriyev and also prominent Russian businessmen Pyotr Aven, Viktor Vekselberg and Oleg Deripaska and a number of regional governors, including Eduard Rossel, the governor of Sverdlovsk Region.

Mr Putin and Mr Stoiber made press statements following their talks.