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In his speech before the dinner, Mr Putin said that Canada not only could but was also fully entitled to contribute to the new modern architecture of international communities.

The President said Russia was counting on a constructive discussion with Canada within the OSCE, UN and G8.

Mr Putin noted that bilateral relations should be put on a solid foundation by promoting joint economic programmes.

To date, Canadian investments in the Russian economy make up half a per cent of the total foreign investment. The President stressed that his meetings with Mr Chretien had helped to outline future prospects and concrete steps for developing economic ties.