The Macedonian-Russian intergovernmental commission meets Thursday in Ohrid to review the possibilities for bolstering the economic cooperation.

Macedonian Vice-Premier and Finance Minister Zoran Stavreski and Russian Deputy Minister for Regional Development Maxim Travnikov will co-hair the talks of the two delegations in Ohrid.

Trade exchange is a dominating form of the Macedonian-Russian economic cooperation. The Russian Federation has been among the top ten trade partners of Macedonia for many years. The trade exchange between the two countries in the first half of this year year reached US$ 374,3 million, being higher for 39 percent in comparison to 2010. However, Macedonia has been making large trade exchange deficit - covering the import (mainly oil and natural gas) with less than five percent of export. Macedonia's export to Russia is mainly comprised of pharmaceutical products. This year the export of medications has been higher for 60 percent. The export of fresh fruits and vegetables has also registered substantial growth.

The activities of Macedonia's Government for attracting foreign investments have also brought Russian businessmen to Macedonia. This August Russian company "Prodis", part of the pharmaceutical holding "Protek Group", kicked off a construction of a plant at the free trade zone 'Bunardzik'. The project is worth EUR five million.