The visit comes in advance of British Prime Minister David Cameron accepting an invitation from Russian President Dmitry Medvedev to visit Russia in 2011.

Russia and Great Britain are "ready in cooperation as their views matched on many issues," Medevedev told journalists after the talks with Cameron within the meeting of G20 leaders in Seoul.

The Russian leader said that he had discussed with Cameron international security issues, the Iranian nuclear problem as well as security concerns on the Korean Peninsula.

Medvedev said Russian-U.K. relations had seen a significant upturn.

"Russian companies continue Initial Public Offerings (IPO) on the London Stock Exchange with great pleasure. It should be strengthened," the president said.

British companies are interested in participating in Russia's hi-tech hub, Skolkovo, a source in the Russian delegation at the G20 summit told RIA Novosti news agency on Friday.

Cameron in response to Medeved's invitation was highly "interested in the British businessmen's participation as partners in Skolkovo project," the source said.

"The talks were very substantive. Everybody realizes there are difficulties, but they should be solved," the Russian delegation source said.

Medvedev has called on foreign companies to participate in the Skolkovo project that is believed to be Russia's innovation hub.

In OctoberBritish Foreign Secretary William Hague visited Russia for talks with President Medvedev and Foreign Minuster Sergei Lavrov.

British Business Minister Vince Cable