Russian Finance Minister Alexey Kudrin, the leader of the Russian delegation to the forum, addressed the meeting. He presented the prospects for Russia's economic development over the next four years.

According to Mr. Kudrin, Russia's key economic goals are to liberalize foreign exchange controls, join the World Trade Organization (WTO) in 2004 and implement tax reforms. The Finance Minister said the reforms were aimed at significantly reducing the tax burden. In particular, the single social tax, the value added tax, the land and water taxes and the personal property tax will be reduced. He also noted that it was necessary to separate the powers and revenues between the authorities of different levels.

The meeting was attended by Andrei Illarionov, Economic Adviser to the Russian President; Sergey Karaganov, Chairman of the Board of the Council on Foreign and Defence Policy of the Institute of Europe, Russian Academy of Sciences; Jean Lemierre, President of the European Bank for Reconstruction and Development (EBRD); Mikhail Margelov, Chairman of the Committee for Foreign Affairs of the Federation Council; Alexey Mordashov, Chairman of the Board of Directors of the Severstal steel works; and Ruben Vardanian, President and Chief Executive Officer of Troika Dialog brokerage.

The Russian delegation to the World Economic Forum also includes Railways Minister Leonid Reyman; Anatoly Chubais, head of RAO Unified Energy Systems of Russia (UES), Igor Yurgens, Vice President of the Russian Union of Industrialists and Entrepreneurs; Kakha Bentukidze, head of the United Mechanical Engineering Plants. The forum will be attended by the politicians Irina Khakamada and Vladimir Ryzhkov.

The annual World Economic Forum is convening for the 34th time. The theme of the 2004 forum is "Partnering for Prosperity and Security". The agenda is based on the following thematic threads: ensuring global security, promoting global growth, managing new risks, building corporate resilience, spurring innovation, harnessing the diversity of values, and reducing inequity. More than 250 sessions will be held within the framework of the forum.

The forum will last until January 25. About 2,100 delegates from 94 countries of the world will take part in it, including more than 30 heads of state and 75 government officials. Among the participants of the World Economic Forum are UN Secretary-General Kofi Annan, NATO Secretary-General Jaap de Hoop Scheffer, US Vice President Dick Cheney, Iranian President Mohammad Khatami, and Georgian President Mikhail Saakashvili.