MOSCOW, Dec. 2 (Xinhuanet) -- Russia is optimistic about the future Austrian presidency of the European Union (EU) and hopes for further development of the cooperation with the EU, Russian President Vladimir Putin said on Friday.

    "We are optimistic about the upcoming Austrian EU presidency," Putin said at a meeting with Austrian Chancellor Wolfgang Schuessel at the Kremlin on Friday.

    Putin expressed hopes for progress as far as the implementation of plans for creating four Russian-EU common spaces is concerned, the Russian media reported.

    Recalling the British presidency of the EU, the president said "we have made considerable steps in the area of strengthening our relations with the EU, including as regards the implementation of plans for creating four common spaces" .

    Putin meanwhile praised a growing trade turnover between Russia and EU that exceeds two billion dollars now and is expected to reach 2.5 billion dollars by year's end.

    Taking into account growing mutual trade the two countries are offered many possibilities which can be effectively used, Putin noted.

    He believed that the Austrian chancellor's visit would promote the realization of these possibilities.

    Schuessel in turn said Russia and the EU have a large number of international issues to cooperate on, varying from Iraq and the Middle East to Afghanistan and the Balkan states. The EU will need Russian knowledge and experience to solve these issues, the Austrian chancellor added.

    Schussel promised to promote the EU cooperation with Russia in the fields of economy, ecology, transport and security, during the period when Austria holds rotating EU chairmanship in the following six months.

    Economic contacts between Russia and the EU have been developing very well. Russia is showing economic growth and declining inflation rates, he said. Enditem