Russia intends to take part, as equal, in a conference of G-8 finance ministers in Washington on Friday, Russia`s Deputy Prime Minister, Finance Minister Alexei Kudrin reiterated at a reception in the U.S. capital on Thursday evening.

Noting that the finance ministers would be discussing the key issues of the world economy, Kudrin underlined that Russia was "ready to make its contribution to the solution of global problems."

The participants are expected to discuss the role of so-called welfare funds, similar to Russia`s Stabilization Fund and the use of gold and hard currency reserves.

Russia, in terms of gold and hard currency reserves -- which exceed 420 billion dollars as of now -- ranks third in the world.

Kudrin said the Russian economy would be the world`s fifth largest in two decades. The groundwork for it, including the legislative underpinning, has already been created.

During his stay in Washington where Kudrin arrived to attend the annual meeting of the executive IMF and World Bank bodies, he will have talks with U.S. colleagues, including U.S. Secretary of Treasury Henry Polson, Secretary of Commerce Carlos Gutierrez, and U.S. Trade Representative Susan Schwab.

The parties will consider bilateral Russia-U.S. relations, and prospects of the Doha round of global trade talks under the aegis of the World Trade Organization.

The reception, to which Kudrin came straight from the airport, was devoted to trade-economic and investment relations between Russia and the United States. The Russian deputy prime minister expressed confidence that these relations have "a serious future."
sections: Politics, World News