Putin Sets Up Economic Modernization Council

President Vladimir Putin has set up and will head a council for economic modernization and development, the Kremlin said on Monday, RIA Novosti reports.

Prime Minister Dmitry Medvedev will chair its presidium.

The new state body is intended to increase cooperation between federal and regional bodies, public bodies, scientific and other organizations and deal with issues relating to the modernization of Russia's economy, the Kremlin statement.