MOSCOW, March 21 (Itar-Tass) – Russian President Vladimir Putin expects that Russia-European Union trade may shortly reach 500 billion dollars.

“Europe remains Russia’s biggest economic partner, and the level of our trade has exceeded 410 billion dollars,” the president said at talks with European Commission President Jose Manuel Barroso. “I believe that within the coming few years we may achieve a growth in trade up to 500 billion dollars,” he said.

Putin expressed hope that the visit of the European Commission leadership to Moscow will give a boost to relations. “I am confident that at a meeting with the government tomorrow we will manage to not only discuss the existing problems, but to also progress in our relations,” Putin added.