Mr Putin held a meeting with Foreign Ministers Celso Amorim of Brazil, Roberto Tovar Faja of Costa Rica and Allan Wagner Tizon of Peru.
Mr Putin expressed hope that the arrival of Rio Group representatives would promote relations with Latin America.
The President noted that although Russia’s economic cooperation with Latin American countries was not up to its potential, political dialogue was developing, global threats, including international terrorism, were countered with joint efforts, and good prospects existed for the development of relations in other areas.