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The discussion centred on the role of business in strengthening Russian statehood, maintaining social stability, and preserving and increasing the national wealth.

The representatives of Russian business expressed concern about the ageing of industrial equipment and called for greater investment in modernising the fixed assets.

The President reaffirmed that the Government did not plan to reconsider the results of privatisation. But he called unacceptable the situation in which rival companies tried to use state bodies and law enforcement agencies to achieve their goals in the competitive struggle.

The participants in the meeting underlined the need to continue Russia’s economic reforms, whose main goal should be higher living standards.

A decision was taken to set up a permanent mechanism for consultations between the Government and businessmen. Representative bodies bringing together Russian business leaders will assume responsibility for presenting a coordinated position at regular meetings with the President and the Government.