Russia and the United States will start an economic dialogue within a new format in the spring of 2008, the Russian Foreign Ministry said in a statement on Thursday.

"Given the increased investment and trade between our two countries, and Russia's growing importance in the world economy, the United States and Russia will establish a formal economic dialogue to discuss issues of mutual interest," the ministry said in a brief joint statement, adopted on Thursday following consultations between First Deputy Foreign Minister Andrei Denisov and US Under Secretary of State Reuben Jeffery.

The dialogue will include various US departments and agencies, Russian ministries, and the two countries' respective business communities. The inaugural meeting of this dialogue will be in the Spring in Washington D.C., the ministry said.

"The parties discussed prospects of promoting the Russian-American economic dialogue, whose importance derives from the increased investment and trade between Russia and the United States," the ministry said.

"A plan was approved to consider the possibility of launching a renewed mechanism of Russian-American economic cooperation with the participation of government agencies and business communities of the two countries," it said.
 
(Xinhua News Agency February 1, 2008)