PUTIN, ZAPATERO ON FUTURE ECONOMIC TIES

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MOSCOW, December 10 (RIA Novosti) - Russia and Spain are working to update a bilateral capital investment protection agreement. The job will be over quite soon, hopes President Vladimir Putin. He said so to a joint news conference in which he and Jose Luis Zapatero, Spain's Prime Minister, were summing up today's negotiations.

Measures will be taken quite soon for an intergovernmental commission to update the instrument, added the visitor.

President Putin does not think any obstacles to making the agreement may rise after Russia joins the World Trade Organisation, he reassured.

Russia and Spain have fine partnership prospects in many fields, in particular, energy infrastructure development, said the President. Among priority fields, he highlighted construction, infrastructure, railway transport, highway laying, power industry-in particular, the oil-and-gas sector, and closer capital investment links.

Spain's Cabinet and many Spanish-based companies are interested in building up investment in Russian power industry, construction, railway infrastructure and tourism, said the Prime Minister.

"I am once again confirming our government's goodwill to develop close and far-reaching contacts with Russia," he emphatically added.

He hopes all aspects of commercial and other economic contacts making progress, that came up at the Moscow negotiation table today, will get a firmer practical footing when President Putin pays a state visit to Spain next year.

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