MOSCOW, June 8 (Xinhua) -- During the 12th St.
Petersburg International Economic Forum running from June 6-8, thousands of
representatives of the global elite discussed economic issues ranging from the
national economic interests to the future development of Russia.
As a major economic forum held annually in the
region, the year's forum also marked the first post-inauguration international
event for Russian President Dmitry Medvedev, who pledged to turn his country
into a stronger economic power.
Russian President Dmitry Medvedev waves
as he enters the stage at a St. Petersburg economic forum June 7, 2008.
(Xinhua/Reuters Photo) Photo
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In
his speech to the forum opening, the president said Russia wishes to take part
in forming new rules of game in the world economy.
"Russia is a global player today. Understanding our
responsibility for the fate of the world, we wish to participate in forming new
rules of game, not because of the notorious imperial ambitions, but because we
have official opportunities and resources here," he was quoted by the Itar-Tass
news agency as saying.
He also said the role the United States has played in
the world economy does not correspond to its true capabilities, describing this
as one of the key reasons behind the current global financial crisis.
Russian President Dmitry Medvedev
delivers a speech at a St. Petersburg economic forum June 7, 2008,
pledging to turn his country into a stronger economic
power. (Xinhua/AFP Photo) Photo
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Moreover,
Medvedev said the growing economic nationalism of some countries is affecting
world economic development.
Some countries were seeking to protect their economic
sovereignty and gain maximum advantages for their citizens without sharing these
benefits with their neighbors, he said.
"I don't think that such a strategy is the best
solution to all problems in the current crisis," Medvedev said.
Recalling the task of "ensuring Russia's transition
to an innovative model of development and to get on the list of the world's top
five economies by 2020", which had been set forth by the Kremlin, Medvedev said
Russia needs more long-term investment to achieve the goal.
Last year, the inflow of investment in the main
assets increased by 21 percent from that in 2006, which marked a doubling of the
rate on the year, he said.
"If we stabilize this encouraging tendency, we'll be
able to lay solid grounds for a further diversification of the economy and, more
importantly, for its changeover to a new technological format," he went on
saying.
While foreign direct investment in the country's
gross domestic product was no more than 5 percent of the total -- mostly in the
retail, construction and raw material sectors, Medvedev said the government has
taken certain steps to change the situation, among others, a bill on regulating
foreign investment has been passed.
Meanwhile, Medvedev said that Russia would soon adopt
a plan to turn Moscow into a global financial center and the national currency,
the ruble, into a leading regional currency.
"The transformation of Moscow into a powerful world
financial center and the ruble into a leading regional reserve currency are the
key components called upon to ensure the competitiveness of our financial
system," he said.
MOSCOW, June 7 (Xinhua) -- Russian President Dmitry
Medvedev said on Saturday that Russia wishes to take part in forming new rules
of game in the world economy, the Itar-Tass news agency reported.
"Russia is a global player today. Understanding our
responsibility for the fate of the world, we wish to participate in forming new
rules of game, not because of the notorious imperial ambitions, but because we
have official opportunities and resources here," Medvedev told the opening of
the St. Petersburg economic forum. Full story
