Merkel: "We must meet the challenge of improving the visa regime."

"We have to do our job to improve the visa regime. We will go forward, but perhaps not as quickly as Russia would like," said German Chancellor Angela Merkel at the opening of the Hannover Industrial Fair.

Speaking about economic cooperation, Merkel noted that Russia has an impressive wealth of raw materials and oil and gas and stated that "Germany is ready to assist in their development."

Merkel also brought up the topic of NGOs which have been widely discussed in recent days.

She expressed the view that non-governmental organizations should have a chance to develop in Russia.