At their meeting in the Kyrgyz capital of Bishkek, Medvedev and Bakiyev are expected to discuss trade and economic cooperation, including in energy, as well as regional security. This is Medvedev's first visit to Bishkek since his election victory in March 2008.
The presidents are due to sign an intergovernmental agreement on developing cooperation in the electric-power supply industry, as well as a memorandum of understanding between Kyrgyzstan and Russia's energy giant Gazprom.
During his two-day official visit to Kyrgyzstan, Medvedev will also take part in meetings of the heads of state of the Commonwealth of Independent States (CIS) and of the Intergovernmental Council of Eurasec. Both meetings are set for October 10.
The previous meeting of the Council of the Heads of State of the CIS was held in Dushanbe, the capital of Tajikistan, in October 2007, when Kyrgyzstan took over the organization's rotating presidency.
The CIS comprises Russia, Georgia, Belarus, Kazakhstan, Kyrgyzstan, Azerbaijan, Armenia, Moldova, Tajikistan and Uzbekistan. Ukraine is a founding and participating country but technically not a member state. Turkmenistan holds associate status.
Eurasec, established in 2000, is an international economic organization, consisting of Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. Armenia, Moldova, and Ukraine have observer status.
Both the CIS and Eurasec leaders are expected to discuss, among other issues, the current financial crisis at their respective meetings.
The CIS leaders will also consider a "draft economic development strategy until 2020, drawn up by a working group of deputy economic ministers from the member states," Russian presidential aide Sergei Prikhodko said on Wednesday.
The agenda for the Eurasec summit will also include setting up a Customs Union between Russia, Belarus and Kazakhstan.