German Chancellor Gerhard Schroeder and visiting Russian President Vladimir Putin officially opened the 2005 Hanover Fair Sunday evening, sending a strong signal of an expanding bilateral economic ties.

The two leaders expressed their willingness to a further bilateral trade and economic cooperation at one of the world's most important technology exhibitions.

Putin called on German companies to invest more in Russia, saying that the fourth slot of Germany concerning the investment volume in Russia is "not satisfying."

"We regard the Hanover Fair not only as window of Russian industry but also concrete cooperation offer," Putin said.

He said Russia is committed to further privatization of companies, liberalization of its currency and reforms of its banking sector.

German Chancellor Gerhard Schroeder said he expected "important signals" from the exhibition.

Russia has become Germany's major oil and gas supplier and the two countries are planning to build high speed trains.

Putin arrived in Hanover Sunday afternoon on a two-day working visit to Germany.

The 2005 Hanover Fair of Germany, one of the world's most important technology exhibitions, will witness some 6,000 exhibitors from 65 countries, organizers said.

As the "partner land" of the 2005 fair, Russian exhibitors will show their strong point in Aircraft construction at the fair, including the new medium-range jet "RRJ", Russian officials said. The jet is schedule to have its maiden flight at the end of 2006.

Source: Xinhua