"The growth in trade amounts to 60% this year and we hope to reach the figure of $1.7 billion," Dmitry Medvedev said at a meeting with his Kyrgyz counterpart, Kurmanbek Bakiyev, in the former Soviet republic's capital, Bishkek.
Medvedev arrived in Kyrgyzstan on Thursday for talks with Bakiyev and to take part in meetings of the Commonwealth of Independent States (CIS) and Eurasec leaders.
The Russian president told Bakiyev that bilateral "cooperation enjoys stable and positive dynamics and the countries hold a dialogue on all levels. We hope to continue this."
For his part, Bakiyev thanked Medvedev for Russia's assistance in the relief operation efforts following the earthquake that hit the southern Kyrgyzstan over the weekend.
"The people of Kyrgyzstan are very grateful for Russia's help," he said.
The earthquake, measuring 6.6 on the Richter scale, struck last Sunday in the southern province of Osh near the densely populated border area with China, killing at least 75 people, injuring 150 and destroying some 300 buildings.
After the presidents met, a package of agreements and declarations between Russia and Kyrgyzstan was signed, including on developing cooperation in the electric-power supply industry and cooperation between the foreign ministries in 2009.