MOSCOW, December 9 (RIA Novosti) - Russia's prime minister told the president of Argentina during a meeting in Moscow on Tuesday that the two countries had the chance to develop both traditional and newer forms of cooperation.

"There are opportunities for cooperation in the spheres of nuclear energy, space, and other spheres of high technology," Vladimir Putin said, opening a meeting with Cristina Fernandez de Kirchner, who had arrived in the Russian capital earlier in the day on a two-day official visit.

The visit, the first by an Argentine leader in ten years, is expected to mark a breakthrough in bilateral ties and to boost bilateral trade that currently stands at $1.4 billion, a five-fold increase since 2003.

Putin also said that he was generally pleased with relations in economic development between the two countries.

The president of Argentina said that progress in visa talks was "proof of friendship and readiness for cooperation."

Russia's ambassador to Argentina, Yury Korchagin, said earlier that the two countries could sign an agreement to relax or even annul the current bilateral visa regime in a bid to encourage business contacts and increase tourism.

She also thanked Russia for its support of Argentina's attempts to bring London to the negotiating table in connection with the disputed Falkland Islands. The islands were the subject of a brief war between Britain and Argentina in 1982, and are currently controlled by Britain.

Kirchner is being accompanied by a group of about 100 business representatives who are expected to discuss investment and business issues at an economic conference with Russian entrepreneurs.

Argentina is one of Latin America's top exporters of meat, fruit, dairy products and wine to Russia.