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Bavaria accounts for more than a third of German investment in Russia, including major investment deals. In Munich, Mr Putin met with Bavarian business leaders and rated highly the prospects for bilateral cooperation in the energy and innovation sectors, the automobile industry and in major infrastructure projects. The President made a call to intensify the investment partnership between Russia and Germany.

Meeting with members of the Bavarian science and research community, Mr Putin said that Russia and Germany had a high level of cooperation in marine and polar research, biology and laser technology, and also in the area of education and academic exchanges, training for specialists and introduction of innovative technology. A new intergovernmental agreement being drafted by a specially formed working group will help to further strengthen ties between Russia and Germany in the area of science and technology, Mr Putin said.