The Bank of Russia and the Eurosystem conducted their fourth seminar in Moscow on October 10-11, 2007. The event was attended by the top managers and executives of the Bank of Russia, the European Central Bank, and thirteen national banks - members of the Eurosystem. Some high-ranking officials from the Russian Federation President Administration, the Russian Federation Government Office, the Federal Assembly, the Russian Federation Ministries, the European Commission, and the Bank for International Settlements took part in the seminar.

The seminar was targeted at establishing stronger ties between the Bank of Russia and the Eurosystem. The points on the agenda covered issues like the current state of Russian economy, the country’s monetary policies, and the expansion of the EU and the implications it has for Russia.

«The issues touched upon in the course of the seminar are directly related to the ways of adequately reacting to today’s global economy challenges. Given the ongoing growth of the EU and the ever-increasing pace of globalization, the exchange of experience among different countries’ central banks can support the stable development of trade and economic relations between Russia and the Eurosystem», says Bank of Russia’s Chairman S. Ignatiev.

‘The economic development of both parties has been stimulating the increase in the international trade figures; then, the volume of direct foreign investments has gone up as well. The productive interaction between the Eurosystem and the Bank of Russia is just one of the aspects of the intense cooperation between the European Union and the Russian Federation,’ says President of European Central Bank.