"The establishment of a firm legal basis of bilateral relations" could boost Russian-Chilean ties, the Russian President said.
The Russian and Chilean presidents completed private talks in the Green Hall of the Grand Kremlin Palace and moved to the Catherine's Hall, where they were joined by their delegations.
According to the Russian President, Chile is "the most stable country in Latin America in political and financial-economic spheres".
It sets "a good example to Russia", Vladimir Putin said.
Putin expressed hope that the visit "by such a representative Chilean delegation" to Moscow "will boost bilateral relations", taking account all the good prospects, especially "traditional friendly relations" between the two countries and Chile's stable development.
The Chilean President hopes that the current Russian-Chilean meeting will be productive". He is accompanied by a representative delegation of politicians, parliamentarians, businessmen and scientists because it is necessary to develop not only trade and economic relations, but also scientific-technical links.
The Pacific Ocean is a common factor to expand and develop cooperation, Lagos said. The Chilean President believes that Russia and Chile could boost cooperation in this region.