Communique on the 13th Session of the Foreign Investment Advisory Council

(Moscow, October 9, 2000)

Prime Minister Kasyanov and other government officials met with foreign investors at the 13th Session of the Foreign Investment Advisory Council (FIAC) on October 9, 2000 at the President Hotel. The discussions focused on the principal development trends in the Russian economy, the progress of and issues related to the implementation of the Economic Program of the Government of the Russian Federation

The Government of the Russian Federation also committed itself to address on a priority basis the following issues raised at the FIAC working group meetings and the plenary session:

• Accelerating the full transition to International Accounting Standards;
• Accelerating the adoption of PSA legislation and enabling regulations;
• Removing regional and interregional barriers restricting investment and business activities;
• Improving tax, customs and currency laws;
• Improving the banking system in Russia;
• Improving the protection of investors' rights, including the stock market;
• Adding value to commercial activities of enterprises.