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Prime Minister Vladimir Putin meets with his Finnish counterpart Matti Vanhanen

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Transcript of the beginning of the meeting:

Matti Vanhanen (as translated): Mr prime minister, ladies and gentlemen, it is my pleasure to welcome you to Finland. I must say that your visit has gotten off to a very effective start. We expect very interesting discussions and talks.

There are several practical issues that require our attention, particularly due to the economic downturn.

One especially important issue is the signing of an agreement that would extend the Finnish lease of the Russian part of the Saimaa Canal for another 50 years.

We will also witness the signing of a series of important business agreements.

All these agreements inspire us with confidence that the decline in our commercial relations over the past year, which were caused by the global economic crisis, has ended.

And so, I'm very pleased to welcome you here once again.

Vladimir Putin: Many thanks for the invitation.

Indeed, trade between our two countries has declined considerably because of the economic downturn. Nevertheless, there are two facts to which I'd like to draw your attention.

First, despite this decline, Russia remains Finland's leading trade and economic partner in terms of volume.

Second. In the first quarter of this year, trade between our two countries started to pick up again; it increased by 30% almost immediately.

Let's hope that our efforts, as well as the efforts of our colleagues and the governments of Russia and Finland, deserve at least some credit for this increase.

Moreover, the signing of an agreement extending the Finnish lease of the Russian part of the Saimaa Canal is a landmark event.

This treaty is not just of economic significance, it is also of national importance, in the broadest sense of this word.

First of all, this treaty is economically important for both Russia and Finland. Second, a 50-year lease demonstrates the special nature of our relations. It demonstrates our confidence in each other and our desire to cooperate in the long-term, historic perspective.

Thank you.