The US and Russia are to begin formal economic talks at ministerial level, the US embassy in Moscow has said.
Increased investment and trade between the two nations has allowed their relationship to develop, it added.
This is despite several disagreements over issues including US plans for a missile defence shield.
The first dialogue - to include various US departments and agencies, Russian ministries and business communities is scheduled for spring in Washington.
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The increased communication between the US and Russia over economic issues is a big deal. These talks can have a great positive impact on the relationship between the two countries. It can help to smooth over differences that we may have had in the past, and it shows the US's commitment to help other countries grow and prosper.
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