as the world's largest economies after the g twenty will follow through on their state's desire for calm and alinta the show spotlight next we asked washing presidential aide at the vocal range but he's views on currency instability and it's the impact. the latest in science to. the future. hello again or welcome to spotlight the end to the show on r.t. i'm al green of and today my guests in the studio is out of the record. the

currency wars which were sending shivers across the financial markets appear to have been defused for now developed nations are trying to secure a more even balance between economies globally is russia going to profit from it here is the aid to the russian president park which. russia is promoting its currency the ruble as the new global reserve currency to use the ruble in trade routes neighbors including china but it wants to see to use more a working group has been created in an attempt to improve the reputation of the russian currency the plan is to turn moscow into world trade center. the ruble as a reserve currency would strengthen the russian economy and give it competitive advantages when it eventually joins the world trade organization arkady dvorkovich says the exception into the organization will happen next year but that you've

heard many times before. walk into the show thank you very much for coming well first of all let's talk about the g twenty that they just took place well first of all on the g. twenty leaders agreed and so to abstain from devaluation of their national currencies and this as president medvedev has put it i quote inspires optimism about the future what can guarantee that this agreement will be implemented why. just a piece of paper as we say in russia. two things one small correction leaders agreed to they abstain from our competitive devaluations for national currency which implies. that gives this. water in a sense of artificial the relations a lot not what this is a spoiler you know

a lot of the way that the fundamentals of a particular economy are two things that make them believe that this commitment is really effective one one thing courage is very important is the way our previous commitments of the g twenty leaders. have been met one with example is a commitment to refrain from protectionism we could see much war station in the world without that commitment taken back. in washington the first summit of the leaders. all can this introduce some protective measures but without the commitment to refrain from major form of protection we could see where it is that could divide the world altogether and the second thing is a petition political commitment to leaders implies that breaking that commitment. to education under these leaders do not want to see. you say

a quote you know actual policy of printing money can increase the risks of money markets especially emerging markets to to to be near to the to be risky and current meanwhile the u.s. keeps pumping and pumping billions of dollars of printed dollars into its economy does not contradict the g twenty decision what about their reputation have a banner. from what i know are from what i know from our finance minister and central bank they are from an informed by i. here's a mystery sion by phil treasury and until it is your for him about what he says about him mounts of four new ones being can each should and this allows them to to make steps to alleviate pressure on the market in this what is really important any garment in central bank store in the right to conduct policy is. that

they believe or are needed for the national economy but what is important for us is to know what they're going to do and to react. to excessive for motion on. reaction construct real magically. making. lower and this is what leaders agreed on they agreed that the finance ministers and central bank are governors will meet frequently will discuss those things will consult each other really develop a set of irons indicators that will help them do it work major imbalances well that brings us back to your correction when answering the first question so so so. as as far as national governments are informed of what's going on even in the united states to bring to bring jobs as far as far it's a competitive you feel more or less safe about it yeah you feel safer.

there's nothing absolute in this war we still say for intuit is important. is. that we also know what the plans are. other boris's like fiscal policy was commitment to making toronto to reduce budget deficit by two fault in see it a four year period if all countries feel the need for this commitment then disks will be substantially lower. the russian national news agency really noticed your rights i quote south korea proposed in the idea of creating a global net of financial security is it true does russia support it tell us more about it is that one of the original ideas of the korean president. to create. a global financial safety net and the financial safety net so include both global

instruments governed by the international mind the front and to other international financial organizations and to such instruments were developed. before the summit in seoul into or approved by leaders instruments that create much more flexible conditions for countries that found themselves in problematic station to request global health plans and you see this help without breaking preposition altogether in the second component of the regional. apart regional areas. were your direct neighbors will help your local finance i your civilization programs in feel share. with other countries and will you because those two parts will continue to the new system is not the bretton woods two yet we are not there yet but it's one of the ends of the future and new future global mindtree system

speaking right risks many experts today speak about the risks of the cheap dollar and cheap you wind for russian economy is there a risk that the ruble will start becoming too strong. well be there for. inexperience already you're overweight it will. in the way of ruble was higher than supposed by from the mental you to. and capital inflows that hurt before the crisis and creates risks for for the real economy what is important is that the rate of appreciation of the national currency is not higher than the rate of increase in efficiency of labor productivity and energy efficiency and other efficiency

indicators we believe that at least at this point in time the medium term perspective. would potential to increase efficiency even faster than the rate of increase in the real value of robel and this will keep us on the safe side and will not expedient thing in negative and second so for. a dollar or declares that's very very interesting to hear that from me because this is i think the first time in my lifetime that i hear from a person like you if the government to to to be betting on increasing efficiency of they've got to be not on the all price in something else this is interesting well the only think we can bet on right now there is no no way we should rely exclusively on our community exports and global prices prices are all tile and we. experienced during the crisis when both physical demand and prices went down in

that we lost a lot of revenue the focus of our present government right now is to you know falls in with the musician plan and to increase efficiency of the russian economy and they are so if i was the most occur in our production and our exports. it's the only way we can perceive it great ok now there's still another quote i want you to comment on it comes from robert zoellick the head of the. of the world bank and he wrote in financial times recently. this system should also consider employing gold as the national reference point of market expectations about inflation deflation and future currency values and quote is russia supporting this idea of increasing the role of gold well. this. phrase.

by robert zoellick the president of the of the world bank is always the exact. reference to what the present video said two years ago one of the summits one of the twenty summits that we are advocating expanding the basket of for reserve currencies. and we should also think about the role of walt as one of the ways in. fact that we should means russia is a supporter of the russia russia is a supporter of the sadia it's still to be discussed what exactly their old world could be. we are far from the. suggestion that the goal should become a new standard to move again to the gold standard. risks involved in such a scenario. even greater than than the current station but we could see

a greater role of new regional here of course is in gold in the new mine to the system and this subject is going to be caused by both experts finance minister central bank governance and leaders who are getting the french presidency a conference french presidency in two thousand to have an says aide to the russian president at one point the spotlight will be back shortly we'll continue this interview in less than a minute after a break so stay with us don't go. seventy six hours of intense fighting. six thousand desert of beach front wheel several kilometers long. and now there is only one person who cares.

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fail to keep their unique secrets their bottoms unique lakes on our t.v. . welcome back to the spotlight i'm alvin of and just a reminder that my guest here in the studio today is out of the right of course he's the presidential aides eight the russian president dealing with questions and problems our economy we're discussing the the g. twenty summit that took place in in korea and russian world economy. this dark orange nokia famous communications company is said to be starting its business or whatever in skulk or the russian innovation center during the apec summit e.u. said japanese companies expressed an interest to bolt towards the skolkovo project

to sell not only the finns but the japanese to which particular camp companies can you name them how soon can we start doing some. of those tours cocoa project. has already attracted interest from all parts of the world in the finnish and different companies because for huge interest from our other european countries our agents in countries like korea in particular are the president of the ballot will be as well and american companies many american companies who want to participate in the project as coca-cola is already flagship project for many people. many investors and professionals who are coming to russia. can question what can we do it's cocoa that the first questions they ask before the question about corruption convert and injuring you know and it's important for us and skulker can convene though a driver not just

a physical location for four companies but. germany's company is a very good conversation with them if they should be. too busy and i miss the basic metals with heavy industries to be. sumitomo companies. the story of. giants you're talking china obviously a giant we also asked our japanese partners about the pharmaceutical sector and you know that in japan's is the development of new drugs new pharmaceuticals. good shape and thank you recently japanese companies were working. only with the farm and giants in the united states and europe and we agreed that we'll explore ways to world directly with. pharmaceutical companies so they can come through russia and invest in russian are indeed in russia. the government has approved

a five year plan of privatization where do you think the assets but i know you don't work for the gold he work for the president but when i go to sell the assets and the russian change or abroad london new york paris tokyo where is the decision of the government to expand the projection program and to prioritize some major stakes in a large russian company a company. it was. invoked that after the instructions of the president and after the report to the president the president approved the report from the government and says that clears the way for those protestation the reason the president is involved in that all those companies are in the list of three. companies and all provision deals with those as it should be proved by the by the president so the way is open for those certain of the actions.

in each individual case. mr finance and mr quantum year. in consultations with professional as managers professional. financial institutions will take a separate decision on where and how to prioritize in moscow or in london or in new york or in the continental what more will get more money exactly also in which way i.p.o. or direct. sale of faces to the strategic investor or auction of with small packages to be to be sold and all other possible ways of doing it and the idea of the reason i ask this question the previous question is that is that we are reading that that there is a plan or making moscow a world financial financial center and even a special group headed by mr voloshin the accent of the presidential administration

is set up to create this financial financial miles inside the russian capital how's it going what has been done so far as certainly we will use so provision programme to promote more score in the financial center it's too early to say that most will become the global financial center we are one of the at least what we are starting with the regional financial center and that's the first step toward this parish in moscow is a comfortable place for making capital transactions and you know is eastern europe regional is eastern. europe and. four former soviet union countries and other direct neighbors in position program is a good instrument to promote more scores. and. still the overall international financial center programme involves not just pretty nation of russian as its but also making moscow a comfortable place to live for into the business and this is

one of the tasks of the new mayor of moscow to do something it's also it also requires changes in the legislation. in terms of allusions cognate in. preparation of proposals how to change the financial just ration packs legislation to improve for investment climate in russia investment climate in moscow and also it's about administrative procedures about simplified visa and work permit. procedures to. to simplify life for people simplify. ways for people to come to russians work to russia it's important for everyone otherwise people will just not come. next question is where is. economics what to do and policies like start flocking to get the w t o russian session to

double tiro and the position of georgia you said i quote once again georgia is still able to block russia's assertion to w t o but russia is expecting the assistance of some other countries which countries do you mean that could influence georgia persuade. before in country and there which you in your country can book a session in country since it's a concept of consensus rule it's not a majority ward in the arm. till the very last moment until. the in argument comes that a country is. accepted to the litter this is not taken any country including georgia can block russia russia. but what makes us confident that we can go through this process is the real interest of our major partners. in europe and the united states in russia joining.

we know that they're interested so it's clear that they will try to help. the there is a technical way to communicate is for our swiss partners. as our representatives. right now so certainly switzerland will be one of the partners but we also expect support for our our other partners in this process. another couple i want xperience i would hold them rather critics of what you do with the president say that the problem is actually in the fact that the demand for integration products is extremely low in russia as well as the love all up competition would you agree at least partially because i was fully with that and you know we started working on our own arm of the middle of the mission program visit the same idea that we should

to stimulate demand for innovation how could we do something which is out of the mark block this is very ugly business this way that this is why we should start with militancy month and we are trying to do that was in direct way and also in that way. that way to do this is to change the system of government procurement on to an increase the state demand for i knew. when i waited for more than woods in services and. will they be prepared to piece of legislation that will. allow a storm require the products and services that we are buying should. be in compliance and consistent with the most. and more than standards is best the whaleboat standards in the world so we were getting was annoyed broad of walsall we will create a system where we can make the advance order for things that are not created yet

which will. make another push for innovation for companies who knows that we need something in c. years so they will try to develop that something. indirect way to stimulate demand for innovations is to create disincentives like tax incentives. or. develop new technical relation technical standards for the private sector or people thought that they will start. increasing demand for new products and services will do both really last very short question your boss he seems to want also not only to do the inside the country but to start selling russian invasion on the global market and he said medvedev so i mean the president he said that is emphasizing the importance of creating popular high tech brands in russia can you name any of

them except the sputnik of the month they are scanned the sum of wired the browns that russia will be famous we don't know yet sincerely the beginning of the process but. our focus besides the big things like nuclear energy and space is also small things that people need why current new pharmaceutical products new eighty products and eighty i think in the area were because of fear competes for when they should have good must indication of good professionals. we are sure that his support visit with conditions they will create something new and this is salt around the world that there are examples already like. brother thank you virus products for frameless along the world some bottles same thing so it's already working but still seeing so just for us to sink in we'll be good luck to you thank you thanks very much for being with us and just to remind you that my guest in the studio today was the aide to the russian president had

a valid point and that's it for now from all of us here if you want to have your sales part might just drop me a line will be back with more first time comments on what's going on in and outside russia until then stay on r.t. and take personal.

in some petersburg solti's available in green to chill europe grand hotel emerald marco polo blue the club school who turned circles photo olympic gold circus or told us really a ski corinthian if ski pundits reticent to say a strong kempinski might go twenty two you look you think of scope for him. now so to. see stock stories of freedom of speech or a violent offense to show an aussie correspondent the cameraman have been released

on bail after day and the company us trailer arrested while covering projects against a controversial combat training school and they were also forced to pay a fine after being accused of taking part in the north who. want to see i think you know zones days are numbered i can't see bureaus survive in this decade. and be you up for of the month and buy a lot on the end of the future holds but even with numbers and a single currency you know like i said. and the russian newspaper has published details of the european and missile defense system as proposed by russian president dmitry medvedev is trying to make this possibility even made between nato and the. next that is more in-depth coverage of the arrest of a news crew and lots more to do in that broadcasting from our washington studios. for the full story we've got. the biggest issues.