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Mr Putin said he was happy with the completion of work on the 4th Chapter of the Civil Code, dealing with intellectual property issues. The President spoke about his visit to the Plesetsk Cosmodrome and instructed Prime Minister Mikhail Fradkov to supervise the drafting of a social development programme for the cosmodrome Plesetsk and the town of Mirny. Mr Putin called for the various space sector activity plans to be brought together in a general programme for the sector’s development over the next 30–40 years.

One of the main items on the meeting’s agenda was a discussion of the country’s social and economic development results over the first 11 months of 2006. Trade and Economic Development Minister German Gref reported GDP growth of 6.8 percent, industrial output growth of 4.1 percent and a 13.3-percent increase in average wages. Mr Gref also spoke about the Government’s plans to conduct initial public offerings for Vneshtorgbank, Sberbank and a number of electricity generating companies.

Finance Minister Alexei Kudrin reported on the Government’s work on drawing up a three-year budget plan for 2008–2010. The Cabinet will approve the main outlines of the three-year budget on March 15, 2007 at a sitting of the Budget Commission. The final draft will then be examined on April 20 and ten days later will be sent to the parliament. Mr Putin called on the ministers to pursue consolidated work and keep to the deadlines.

Foreign Minister Sergei Lavrov reported on prospects for Russia’s cooperation with countries in Latin America. During his recent visit to Argentina and Brazil Mr Lavrov met with these countries’ leadership and discussed trade and economic ties, cooperation in science and technology, transport and the space sector, and also security issues and the fight against terrorism.

Deputy Prime Minister and Defence Minister Sergei Ivanov reported on the Military-Industrial Commission’s latest meeting and also reported on work to put the GLONASS satellite navigation system into operation. The President noted the need to ensure that access to the system is open not only to major economic actors but also to citizens in general.