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Evaluating the summit's results, the President said that the G-8 leaders exchanged their plans for global economic development and this is important for Russia as it will have a direct effect on the country's economic situation.

Also very significant for Russia were other issues discussed at the Sea Island summit such as the situation in the Middle East.

The Greater Middle East idea emerged as a result of terrorism’s transformation into one of today’s most serious global threats. Given the roots of terrorism and the factors contributing to its spread, including the lack of democratic conditions that mean vast resources are not under control, a move to promote democratisation is a move in the right direction. But what is important, Mr Putin noted, is that this idea and the instruments used to implement it not become a means for intervening in other countries’ domestic affairs. For Russia this is a condition of principle in joint work on developing the Greater Middle East initiative.

The next G-8 summit will be held in Scotland in 2005. In 2006, the G-8 will hold its annual summit in Russia.