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This is why it is so important for Russia that, alongside the energy sector, Russian-U.S. cooperation in trade, the economy and investment also focuses more actively on the machine-building sector and high technology.

President Vladimir Putin discussed the prospects for developing economic cooperation at a meeting with Chairman and CEO of General Electric Jeffrey Immelt.

General Electric has been working in Russia since the 1920s. According to Mr Immelt, the company has turnover in Russia of around $700 million a year.

General Electric is currently expanding its activities on the Russian market. Mr Immelt said that now is a good time to invest in Russia, and that the company intends to invest in the near future around $100 million in developing Russia’s transport infrastructure.