LONDON, Oct. 4 (Xinhuanet) -- The European Union (EU) and Russia pledged on Tuesday to strengthen their cooperation on economic and security issues.

    British Prime Minister Tony Blair, who is the rotating EU president, hosted the EU-Russia Summit with visiting Russian President Vladimir Putin at Lancaster House in central London.

    At a joint news conference with Putin and European Commission President Jose Manuel Barroso, Blair said the EU-Russia summit marked an important stage in the development of EU's relationship with Russia.

    He said the talks had been "good and constructive" and they discussed about "four common spaces" of economy, freedom and justice, external security, as well as culture and education.

    Blair insisted that economic ties between the EU and Russia could only "grow and prosper and strengthen".

    "I want to say how important the relationship between Europe and Russia is becoming," he said.

    Putin said the summit had shown a "consistently strengthening partnership" between the EU and Moscow.

    He particularly hailed progress on visa arrangements for Russian citizens visiting the EU members, which he hopes will eventually lead to visa-free travel across Europe.

    Putin noted that Russia will remain a "reliable partner" for Europe in oil and gas supplies.

    "Russia is a reliable partner," said the Russian president.

    Blair is also scheduled to hold bilateral talks with Putin Wednesday.

    According to the Sky news, Blair will urge Putin to make greater efforts to curb global warming when Russia takes over the G8 presidency from Britain in January.

    The EU is now Russia's largest trading partner with over half of the country's exports going to the 25-member bloc. Meanwhile, Russia supplies more than 30 percent of the EU's oil and gas needs. Enditem