Putin talks trade with Luxembourg
Trade turnover between the two countries reached $US 350 million last year, mainly focused on energy and high-technology.
Vladimir Putin says collaboration in hi-technologies would help both countries reach new markets.
Earlier, Juncker held talks with Russia's President-elect Dmitry Medvedev on strategic development.
Interfax news agency has quoted Medvedev as saying that the new partnership and co-operation agreement between Russian and the EU and European security were the primary issues.