MOSCOW, September 29. /TASS/. Trade turnover between Russia and countries of Latin America have grown by about 25% over the past five years, said Russian President Vladimir Putin.

"The trade turnover between Russia and Latin America has increased by 25% over the past five years. Russian exports have increased 2.3 times. Moreover, [it concerns] such goods that Latin American countries need: wheat, fertilizers, petroleum products and many other vital products. These are generally our traditional markets," he said, speaking at the Russia-Latin America parliamentary conference.

As Putin noted, the further development of reciprocal trade exchanges will be facilitated thanks to a more vigorous transition to national currencies in financial settlements, as well as through establishing channels for credit and banking cooperation and new transport and logistics chains.