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Merkel, Medvedev To Oversee Multibillion Deals

The two leaders met in Ekaterinburg

The two leaders met in Ekaterinburg

German Chancellor Angela Merkel and Russian President Dmitry Medvedev are expected to oversee the signing of an array of deals between German and Russian companies worth billions of dollars.

The Kremlin has said that during talks in the Russian city of Yekaterinburg on July 15, Medvedev and Merkel will discuss the setting up of "strategic alliances" between Russian and German companies in railway, aviation, and energy industries.

Media reports have said that Siemens AG and Russian Railways will sign a 2.2 billion euro ($2.8 billion) contract for more than 200 new regional trains for Russia.

Addressing an annual Russian-German forum on July 15, Medvedev invited German firms to invest in Russian companies that last month were taken off the list of strategic enterprises and now have no caps on foreign investments and shareholding.

Merkel and Medvedev will also discuss Russia-EU relations and international issues including Iran's nuclear program.

compiled from agency reports