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My Profile Top News Reuters top ten news stories delivered to your inbox each day. Subscribe You are here: Home > News > International > Article Home Business & Finance News U.S. Politics International Technology Entertainment Sports Lifestyle Oddly Enough Health Science Special Coverage Video Pictures Your View The Great Debate Blogs Weather Reader Feedback Do More With Reuters RSS Widgets Mobile Podcasts Newsletters Your View Make Reuters My Homepage Partner Services CareerBuilder Affiliate Network Professional Products Support (Customer Zone) Reuters Media Financial Products About Thomson Reuters Medvedev, Merkel talk economy, human rights Fri Aug 14, 2009 11:09am EDT Email | Print | Share | Reprints | Single Page [-] Text [+] By Denis Dyomkin SOCHI, Russia (Reuters) - Germany and Russia should work closer together to beat the downturn, Russia's president told his German counterpart Friday at the start of talks which will focus on the economy but also touch on human rights. President Dmitry Medvedev welcomed German Chancellor Angela Merkel to his official vacation residence at the Black Sea resort of Sochi for their third meeting this year, in a gesture that showed close ties between Berlin and Moscow. "We shall think how by strengthening our bilateral economic strategic ties we could help our economies and people overcome the consequences of this heavy crisis and come out of it even stronger," Medvedev told Merkel. A senior Russian official told reporters ahead of the talks that the leaders would discuss a bid by Canadian carmaker Magna and Russia's Sberbank to buy a stake in Opel, the European unit of General Motors, and a number of other investment projects. Trade between Russia and Germany, Russia's biggest trading partner in Europe, reached a record $67.2 billion in 2008. That figure has been cut by more than half in the first five months of 2009, the official said, without giving a precise number. Merkel has backed the Magna-Sberbank bid over a competing offer from Belgian private equity firm RHJ International and Russia hopes she will reiterate that support during the talks, a senior official in the Russian delegation said. Thursday, a senior Magna executive said agreement in principle had been reached with General Motors to buy the stake. But a GM official later said the race was not over. "We view (the Magna-Sberbank bid's) chances highly, they have become much stronger, he said. Medvedev and Merkel will also discuss finding Russian investors for struggling firms like Dresden chipmaker Qimonda and Germany's fifth biggest shipbuilder, Wadan, he said. Kommersant daily reported Friday that Russian services conglomerate Sistema was seeking to take a stake in Infineon, which holds a 77.5 percent in insolvent Qimonda. Wadan is owned by Russian investor Andrey Burlakov, who is looking for ways to save the insolvent shipyard. "Given proper social and economic reasons and commercial guarantees, such projects can become springboards for strategic alliances between Russian and German hi-tech companies in car making, shipbuilding and electronics," the Kremlin official said. "This will complement the existing and emerging alliances in the energy sector," he added referring to Nord Stream, an ambitious project to deliver Siberian gas under the Baltic Sea to Europe. Russia wants to boost German support for the project in the face of the concerns of some European states that it could harm the Baltic Sea and strengthen Russia's grip on the continent's energy supplies. Germany regularly voices concern over human rights in Russia, an issue which returned to the limelight after the killing of several rights activists in Russia this year and Merkel said she would raise the issue with Medvedev. Continued... View article on single page Share: Del.icio.us Digg Mixx Yahoo! Facebook LinkedIn Next Article: Recession-hit Spain sees drop in migrants Video Rise of the Taliban At this crucial time in the U.S.-led war against the Taliban, GlobalPost reporters recap the current political and counterinsurgency efforts in Afghanistan. Video Life, death and blowback Video: Schooled by the Taliban Full Coverage: Afghanistan and Pakistan More International News Libyan drops second appeal over Lockerbie bombing | Video Poll shows Afghan vote headed for second round | Video Medvedev rules out better ties with Ukraine's leader Recession-hit Spain sees drop in migrants Palestinian Fatah elects new party assembly More International News... Related News Seven women shot dead in Russian sauna 3:23am EDT Featured Broker sponsored link Editor's Choice Slideshow A selection of our best photos from the past 24 hours. 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