MOSCOW, March 5. /TASS/. Russia’s Direct Investment Fund is establishing jointly with Italian partners a fund worth one billion US dollars, Russian President Vladimir Putin said on Thursday after talks with visiting Italian Prime Minister Matteo Renzi.

He said Italian investments in Russia has exceeded $1.1 billion, while Russia’s investments in Italy stands at $2.3 billion.

"With an eye of further growth, the Russian Direct Investment Fund jointly with its partners from Italy is setting up a fund worth one billion US dollars." Putin said.

Also, Putin said he and the visiting Italian prime minister had discussed a range of measures to invigorate cooperation "so that not only preserve but to augment" positive tendencies of the past decades. The Russian leader noted that not long ago a roundtable meeting between CEOs from Russian and Italian biggest companies had been held in Milan. The Russian delegation had been led by Minister of Economic Development Alexey Ulyukayev. "Despite the fact that due to known reasons Russia-Italy trade last year dropped by ten percent, Italy is still among Russia’s leading foreign trade partners," Putin underscored.