A guard of honour paraded in front of the royal palace as the royal orchestra played both countries’ anthems.
His Majesty Bhumibol Adulyadej accompanied his guests on a tour of the palace.
Vladimir and Lyudmila Putin were officially introduced at the royal gallery, which displayed portraits of Thai monarchs and bronze busts of foreign rulers, Russian Emperor Alexander II among them.
A throne room banquet in honour of Vladimir and Lyudmila Putin followed.
As he addressed the gathering, Mr Putin said that the two countries had always felt reciprocal interest. He mentioned the Treaty of Amity and Commerce, signed in St Petersburg in 1897. The President handed to King Bhumibol Adulyadej a copy of a letter by King Rama V to Emperor Nicholas II.
Mr Putin said that however old Thailand and Russia might be, they were dynamically developing countries and that stability and security everywhere from Europe to the Pacific were not only indispensable for domestic achievements but also globally significant.