The development of Macedonia and Russia's economies creates favorable preconditions toward future strengthening of the bilateral trade and economic relations with a huge potential being spotted in energy, agriculture and education, it has been concluded.

Skopje on Friday hosted the 7th session of the Russia-Macedonia Intergovernmental Commission (IGC) for trade, economic, scientific and technical cooperation, which was co-chaired by Deputy PM and Finance Minister Zoran Stavreski and Maxim Travnikov, Russia’s Deputy Minister of Justice.

Both parties concluded that progress had been made in energy cooperation welcoming Macedonia's inclusion in the South Stream project, the Ministry of Finance said in a press release.

Macedonia's officials underlined the need of preferential status for Macedonian agricultural and industrial products that would be exported without or with reduced duties on the Russian market. The commission pledged efforts to be made considering the matter.

With respect to education, scholarships are provided for Macedonian students to attend universities in Russia.

Ways for cooperation between Macedonia and Russia in the field of industry, transportation, regional cooperation, tourism and military cooperation were discussed at the session, stated the press release.