17 June 2016, 15:46 GMT
MOSCOW (Sputnik) – Russia and Italy signed contracts worth 1.3 billion euros (about $1.5 bln) at the St.Petersburg International Economic Forum and will continue working on strengthening bilateral economic cooperation, Russian President Vladimir Putin said Friday.
"Personal participation by Mr. Renzi in this event ensured high level of representation by Italian business circles. Overall, contracts worth 1.3 billion euros were signed with Italian companies at the forum," Putin said at a joint press conference with Italian Prime Minster Matteo Renzi in St. Petersburg.
Putin stressed that both countries would prioritize concrete steps aimed at boosting bilateral economic ties despite current difficulties.
"In general, we see good prospects for localization of production facilities of Italian companies in Russia," the president added.
