The first day of the forum was devoted to global international issues.
As he opened the forum Dmitry Medvedev noted that at present the current institutions of global governance are not able to meet the challenges they face. Russia's role in global financial and commodity markets allows it to actively participate in the development of concrete solutions to reform global financial architecture. The head of state has already suggested that this year a representative international conference with the heads of major financial companies, leading financial analysts and academics take place in Russia.
Before the plenary session began, Mr Medvedev visited one of the exhibitions organised on the sidelines of the St Petersburg Economic Forum. President of Kyrgyzstan Kurmanbek Bakiyev, President of Tajikistan Emomali Rahmon, President of Armenia Serzh Sargsyan, and President of Macedonia Branko Crvenkovski joined Mr Medvedev on the brief visit.