Global CEOs wish to continue dialogue with Russian president in Davos

- Russian President Dmitry Medvedev invited to give opening address in Davos 2009

- Foreign CEOs salute openness and business attitude of new Russian president

- Watch extracts of the session on YouTube http://www.youtube.com/watch?v=7LAhmCOvvHU

St Petersburg, Russia, 8 June 2008 – Some 80 top CEOs from the World Economic Forum’s Member companies held a series of private meetings with the new Russian President Dmitry Medvedev and key ministers at the Russia CEO Roundtable held 6-8 June in St Petersburg, Russia. This first meeting of President Medvedev with the international business community came exactly one month after his inauguration.

"Everybody came away deeply impressed with the president’s keen knowledge of the business challenges and the opportunities that are present in Russia, and also his willingness to have an open and transparent dialogue", said Muhtar A. Kent, President and Chief Operating Officer of The Coca-Cola Company after the private meeting with the president. "The businessmen raised two issues to be addressed: issue number one was the need for a more transparent legal and judicial system, and the second was infrastructure. Russia will become choked at this rate of development if major investments are not embarked upon now," he added.

The CEOs from the World Economic Forum also met privately with Igor Shuvalov, First Deputy Prime Minister, and Elvira Nabiullina, Minister of Economic Development, to discuss how Russia’s strong economic performance can be coupled with a continuing commitment to reforms.

The World Economic Forum has issued an official invitation to the new Russian President to open the World Economic Forum Annual Meeting 2009 in Davos from 28 January – 1 February. This invitation was welcomed by the CEOs participating who wish to continue the dialogue with the Russian authorities.

"We are looking forward to have him share his views on the world and Russia with the most important representatives of business, government and civil society assembled in Davos," said André Schneider, Managing Director and Chief Operating Officer of the World Economic Forum. Russia and its role in the world will feature high on the agenda of the next Annual Meeting in Davos.

On the sidelines of the Russia CEO Roundtable, top executives from Shell, Alcoa, Basic Element and RusHydro highlighted three years of work on shaping the business recommendation on climate change to the G8. A global group of top business leaders is nearing completion of a comprehensive set of business recommendations on a post-2012 framework for global climate policy. The "CEO Climate Policy Recommendations to G8 Leaders" will be handed over by Klaus Schwab, Executive Chairman of the World Economic Forum to Japanese Prime Minister Fukuda at the end of the month just ahead of the G8 Summit in Hokkaido-Toyako this July.

The CEO statement is a pragmatic and practical document containing clear messages and suggestions on issues of mitigation, technology, finance and adaptation. It outlines ideas on long-term and intermediate international goals and supports bold action from the leaders of the major economies.

The World Economic Forum’s exclusive Russia CEO Roundtable was co-developed with the XII St Petersburg International Economic Summit (SPIEF) on 6-8 June 2008 organized by Russia’s Ministry of Economic Development.

For more details on the XII St. Petersburg International Economic Summit (SPIEF), go to http://forumspb.com.

For more information on the Russia CEO Roundtable 2008, go to: http://www.weforum.org/russia.

Pictures are here: http://www.pbase.com/forumweb/russia2008 and the video is here: http://www.youtube.com/watch?v=7LAhmCOvvHU.

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).