SPIEF 2011 – Medvedev: ”Modernization project will come to fruition only if the whole of Russian society joins forces in its implementation“


Dmitry Medvedev’s Speech at the XV SPIEF session (English translation) here.

In the second day of SPIEF work at the forefront of attention was the presence of President Dmitry Medvedev, along with other state leaders which attended the event. If in a few days ago Prime Minister Vladimir Putin wanted, in his speech delivered at the United Nations in Geneva, to remind to the international community that he is still a world class leader, the speech delivered at SPIEF 2011 by President Dmitry Medvedev seems to be rather a message addressed primarily to its own citizens. The media immediately described it as an indicator of the current president’s intention to run for another term. The more so as Medvedev condemned the government’s heavy hand in the economy, even in the presence of Deputy Prime Minister Igor Sechin.

A separate analysis on the statements of President Medvedev and the Potemkin fight for Kremlin will be published next days.

Also, in the second day of SPIEF President Medvedev met with members of Advisory Board on creation and development of International Financial Centre in Russia. Were discussed the board’s current activities and plans for the coming year. Another point of Medvedev agenda was the meeting with PM of Spain, Jose Zapatero. Dmitry Medvedev and Jose Luis Rodriguez Zapatero discussed topical issues of bilateral cooperation and prospects for Russia-EU cooperation. Mr. Zapatero noticed that: ”Spain’s participation in this forum allows us to deepen and strengthen political relations between Spain and Russia, especially economic relations, which are of particular significance for Spain and for the entire European Union. There is an increasing number of Spanish companies in Russia, and a growing volume of contracts between Russian and Spanish companies“. Spain′s PM stressed that there are three conclusions that can draw after discussions with Russian President. ”First, it is essential to consolidate transparency and openness, to strengthen regulation and adopt new requirements for financial markets. Second, it is vital to expand cooperation, strengthen the alliance between various countries at the level of regional organisations (this may be the European Union and great powers like Russia), and at the level of international organisations, such as the IMF. Cooperation is the answer to economic challenges that we face today and will face tomorrow. Third, we must focus on education and innovation, and we must do so with great determination. Let’s concentrate on technology, on a more efficient economy and industry, and make sure that finance does not dominate over the real economy. We must imbue it with a new meaning to ensure that the real economy dominates over finance“.


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