MOSCOW, June 22. /TASS/. Russia and Qatar have an opportunity to expand bilateral trade figures significantly, President Vladimir Putin said on Thursday in opening remarks at his bilateral talks with Qatari Prime Minister and Foreign Minister Mohammed bin Abdulrahman Al Thani.

"[Our] bilateral trade figures at present are relatively low in absolute terms, but a sound basis exists for unlocking the as yet unrealized growth potential. We expect that the [Russian-Qatari] intergovernmental commission will develop effective proposals for tapping that potential. Mr. [Deputy Prime Minister Alexander] Novak is heading it from our side," Putin said.

The Russian Direct Investment Fund, Russia’s sovereign wealth fund, is working successfully with the Qatar Investment Authority, the head of state said. "There is good forward movement; we are very happy with that," Putin noted.

Putin also expressed his appreciation to the Qatari prime minister for "the traditionally very high level of representation by the Qatari delegation" at the St. Petersburg International Economic Forum (SPIEF). "I would like to thank you for that," the Russian leader said.

The president asked his negotiation partner to convey his best good wishes to Qatari Emir Tamim Bin Hamad Al Thani. Putin said that he recalled his meetings with the Gulf state’s ruling monarch, which consistently emphasized the special relationship between the two countries and the intention to develop them further across diverse areas.