US President Barack Obama and his Russian counterpart Dmitry Medvedev would explore possible avenues of cooperation between the two sides in the fields of trade, investment and innovation during their June 24 meeting at the White House.
"The two Presidents will hold a bilateral meeting at the White House on June 24, where they will discuss these issues, as well as other issues of mutual concern leading into the G-8 and G-20 meetings," White House Press Secretary Robert Gibbs said in a statement.
"President Obama looks forward to using this next meeting with President Medvedev to explore possible avenues of greater cooperation regarding trade, investment and innovation," he said.
During Medvedev's visit to the US, Russian and American business leaders as well as civil society leaders will be holding their own meetings in Washington.
"As President Medvedev seeks to promote innovation and modernisation in Russia, President Obama is pleased that the Russian President will begin his trip to the United States by visiting the Silicon Valley, and have the opportunity to review the unique set of factors that has fostered this important centre of technological advancement and entrepreneurship," Gibbs said.
The spokesman said over the last 18 months, the US and Russia have made significant strides in resetting relations between the two countries in ways that advance their mutual interests.
Since their first meeting in London in April 2009, Obama and Medvedev have collaborated closely to enhance the security and well-being of American and Russian people, including through the expansion of the Northern Distribution Network which supplies US troops in Afghanistan; and signing of the New START Treaty which reduces their nuclear arsenals and enhances transparency about their our strategic forces.
The two countries have also worked together on new sanctions against North Korea, designed to compel it to adhere to its international obligations; and the full and active pursuit of the dual-track strategy that seeks Iran's compliance with its international obligations regarding its nuclear programme, including most recently the UN Security Council Resolution 1929.
They have also worked for the creation of a Bilateral President Commission, which has expanded dramatically the interactions among Americans and Russians on a whole range of issues, including emergency disaster response, space, counter-narcotics, counter-terrorism, energy efficiency and trade and investment, among others, Gibbs said.