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President of Russia Dmitry Medvedev: Mr President!

Once again, in what we have come to call extended format, I would like to welcome you to the Russian Federation and to continue the talks that you and I began some time ago.

Here at this table there are not only members of the Russian government but also representatives of Russian business and Russian companies that play a very important role in our cooperation. And I am confident that today, as a result of our negotiations, we will give our relations another new and powerful impetus.

You know virtually everyone who is sitting at this table, Mr President.

President of Venezuela Hugo Chavez: We are old friends.

Dmitry Medvedev: I don't even need to introduce everybody. We are glad to welcome you, let us continue the conversation, but every good conversation should end with the signing of agreements.

Hugo Chavez: Thank you, Mr President.

I would like to welcome everyone. We have met here and in Caracas. I am very pleased to see you all again.

Allow me to introduce my ministers, so that you will know who they are, Mr President. Nicolas Maduro, Minister of Foreign Affairs, the leader from the working class, he was part of the youth movement and the trade union movement, and then became president of the National Assembly of our Congress. Rafael Ramírez, Minister of Energy and Petroleum, President of the oil company Petrуleos de Venezuela SA (PDVSA). We have combined our Ministry of Petroleum and the major firm PDVSA because the industry was in an anarchic state, and now it is united. Andres Izarra, Minister of Communications and Information, he's a journalist who used to work for CNN.

Dmitry Medvedev: It doesn’t prevent him from doing his job?

Hugo Chavez: He’s got through lots of stuff there.

Ivan Orellana, Vice-President of PDVSA; Defence Minister General Gustavo Rangel; Minister of Industry and Commerce William Contreras; and Gustavo Hernandez, Deputy Minister of Finance. Then there is our new ambassador to Moscow, General García, Hernández, and a number of comrades from the security services.

Mr President, we are happy to be here. And, as you yourself have said, this is an excellent opportunity to move forward, to raise even higher the level of our relations and to open new horizons for them.

So I think that the schedule for the day is in your hands and you will guide all of us.

Dmitry Medvedev: You have such a representative delegation, Mr President, that you could convene a cabinet meeting here.