Friday, February 10 2006 15:48 Hrs (IST) - World Time -

Moscow: Finance Minister P Chidambaram would attend a ministerial meeting of G-8, the group of the world's eight richest nations, in the Russian capital Moscow tomorrow (Feb 10,2006).

Chidambaram is expected to arrive early tomorrow for a day-long visit here and and drive straight from the airport to the National hotel facing the Kremlin for the breakfast meeting with Finance Ministers of Britain, Canada, France,Germany, Italy, Japan, Russia and the United States.

China, Brazil and South Africa have been invited, besides India, by G-8 rotating President Russia for the ministerial meet. China will be represented by a Deputy Finance Minister.

"At the breakfast meeting we will discuss the role of these nations in the world economy and the Doha round in view of outcome of Hong Kong WTO meet on trade," Russian Finance Minister Alexei Kudrin said adding such a meeting would be 'useful.'

Meanwhile, local media noted that in spite of having G-8 presidency Russia will not be a full fledged member of the financial club and the meeting would take place in G-7 plus Russia format. "At G-8 Finance Ministers' Moscow meet Russia will share bench with India and China as an emerging economy," influential daily 'Kommersant' wrote.

Russia is the only country of G-8, which is still to join WTO and make its national currency fully convertible to allow free movement of capital across the national borders.

At a press conference yesterday, Kudrin announced that by January 1, 2007 the Russian rouble would be made fully convertible and all restrictions on the free movement of capital, investments and repatriation of profit would be lifted for Moscow's full-blooded participation in the financial matters of G-8.