OREANDA-NEWS. April 21, 2010. The development of Russian financial markets and the establishment of an international financial centre in Russia were the subjects discussed at the meeting.

Mr Medvedev recalled that this goal was stated in the 2008 Presidential Address to the Federal Assembly and specific activities designed to attain it were outlined in 2009. The global financial crisis, however, meant that these plans were only partially implemented.

In this regard, the President laid out several tasks. First of all, Mr Medvedev pointed out that it is necessary to analyse international experience regarding the establishment of such financial centres, to attract foreign experts who were involved in setting up such sites, and decide which procedures and formats are best suited to Russia.

It is also necessary to complete the legislative framework that will govern the centre’s operation.

The President referred to the most important task at hand as creating a propitious climate for business endeavours, including for attracting financial institutions to Russia that want to participate in establishing the financial centre.

The meeting was attended by First Deputy Prime Minister Igor Shuvalov, Deputy Prime Minister and Finance Minister Alexei Kudrin, Presidential Aide Arkady Dvorkovich, Economic Development Minister Elvira Nabiullina, Central Bank Chairman Sergei Ignatyev, and representatives of major Russian and foreign businesses.