Russia President says will stand by Sri Lanka

Russia's President Dmitry Medvedev (R) meets with his Sri Lankan counterpart Mahinda Rajapaksa during the St. Petersburg International Economic Forum-Reuters

Russian President Dmitry Medvedev has assured President Mahinda Rajapaksa that Russia will stand by Sri Lanka in its all efforts.

This assurance was given when the two Presidents met at Lenexpo Hall in Vasilevsky Island, St. Petersburg yesterday, government sources said.

President Mahinda Rajapaksa is in Russia to attend the 15th St. Petersburg International Economic Forum, in St. Petersburg.

Both Russia and Sri Lanka have equally suffered from terrorism and are aware of the pain and destruction caused by it, Russian President Medvedev said.

President Rajapaksa thanked Russia for the assistance given for ushering sustainable peace in Sri Lanka and giving its fullest cooperation to develop the country.

The two leaders also discussed ways and means of improving trade and investment between the two countries.

On the development of investment opportunities, the Sri Lankan President invited Russian investors to take advantage of the good potential that prevails in Sri Lanka as a destination for investment in the region.

President Medvedev said he looked forward to visit Sri Lanka with his Minister of Foreign Affairs Sergei Lavrov who is very fluent in Sinhala.

Russian Minister of Foreign Affairs Sergei Lavrov, Minister of External Affairs Prof. G. L. Peiris, Senior Minister Dr. Sarath Amunugama, Secretary to the President Lalith Weeratunga and Sri Lankan Ambassador to Russia Udayanga Weeratunga were also present during the discussion.

Delegates from more than 70 countries have been gathering in St. Petersburg for a major economic forum to help define the world’s post-crisis financial architecture.

Established in 1997, the annual conference is dubbed the Russian Davos, after the annual financial event held in the Swiss ski resort.

President Dmitry Medvedev mentioned it in his speech on Friday, that the world needs more reserve currencies to diminish the dominance of the US Dollar. Medvedev said the risks of making the world dependent on the microeconomic situation of just one country were obvious.

The Russian President also noted that Russia would like to see the Russian Ruble as a regional reserve currency for the post-Soviet space, and Moscow has already come out with the strategy of how to achieve that.