World Economic Forum opens dialogue of partnership at Russia CEO Roundtable

Top CEOs from the World Economic Forum member companies meet with President Putin and First Deputy Prime Ministers Ivanov and Medvedev in St. Petersburg

St Petersburg, Russia, 10 June 2007 - Over 150 international CEOs from the World Economic Forum member companies met for an off the record discussion with Vladimir Putin, President of the Russian Federation at the exclusive World Economic Forum Russia CEO Roundtable which was held in partnership with the XIth St. Petersburg International Economic Forum.

The discussions with President Putin were "unusually open" said one of the participants. Many were impressed by the President’s comprehensive knowledge of economic issues and his clear vision on Russia’s economic development needs. The CEOs also saluted the "freshness" and "openness" of the discussions during the two private sessions held with top Russian cabinet members including both First Deputy Prime Ministers Sergei Ivanov and Dmitry Medvedev, Minister of Economic Development and Trade Herman Gref and Minister of Finance Aleksey Kudrin

At the plenary session entitled "Competitive Eurasia – Space for Trust", which among others included President Putin, First Deputy Prime Minister Medvedev, President of Kazakhstan Nursultan Nazarbayev, Director–General of the WTO, Pascal Lamy, the President of the EBRD Jean Lemierre and EU Trade Commissioner Peter Mandelson, Klaus Schwab noted that "the meeting had created a much better understanding of Russia and had helped to create a framework for dialogue and cooperation."

President Putin emphasized Russia’s interest in "sustainable development based on trust". The World Economic Forum has brought to St Petersburg 150 top global CEOs to discuss Russia’s ever important role in a globalized world. Reflecting on the collaboration between The World Economic Forum and St. Petersburg International Economic Forum Klaus Schwab said "We are like two brothers".

The World Economic Forum has been engaged in Russia since 1991 and has held regional meetings at regular intervals in Moscow ever since. President Vladimir Putin personally took part in the World Economic Forum in Russia in 2001 and 2003 and First Deputy Prime Minister Dmitry Medvedev led a record 50 member delegation to the last Annual Meeting in Davos, which included Minister of Economic Development and Trade Herman Gref and Valentina Matvienko, Governor of St. Petersburg.

Notes to Editors

For more information about the World Economic Forum Russia CEO Roundtable go to http://www.weforum.org/en/events/russia2007/index.htm

A list of selected participants is here: http://www.weforum.org/pdf/russia/selected_participants.doc

Read Russia’s Competitiveness at Crossroads: http://www.weforum.org/pdf/russia/competitiveness_update.pdf or the Global Risk Outlook for Russia: http://www.weforum.org/pdf/russia/risk_update.pdf.

For more information about the XIth St Petersburg International Economic Forum go to http://eng.forumspb.com/

High-resolution print-quality pictures of the CEO Roundtable will be made available free of charge here: http://www.pbase.com/forumweb/russia_ceo_roundtable

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The World Economic Forum is an independent international organization committed to improving the state of the world by engaging leaders in partnerships to shape global, regional and industry agendas.

Incorporated as a foundation in 1971, and based in Geneva, Switzerland, the World Economic Forum is impartial and not-for-profit; it is tied to no political, partisan or national interests. (http://www.weforum.org)