But, while Rusal signed a memorandum of understanding with this Government in April, the Head of State is welcoming other Russian firms to explore more investment opportunities here.

Rusal, which is to initiate work in the local mining industry, is the world’s number two bauxite/alumina company, after Alcoa of the United States (U.S.).

President Jagdeo, who issued the invitation at a reception to mark Russia’s National Day last Thursday, said recent talks he had with President Vladimir Putin in Moscow gave him “much optimism” about Rusal’s coming and he believes there are good prospects for reviving activities under an existing Guyana-Russia agreement on fisheries.

“…I would welcome investment in other key sectors and, therefore, encourage visits from other Russian companies to explore the many opportunities available in our country,” he said in a speech on the occasion celebrated at the Russian Embassy in Kitty, Georgetown.

President Jagdeo said cooperative relations between the two countries afford the opportunity to work effectively in pursuit of their international agenda.

He observed that, apart from coping with the challenge of survival in the now entrenched system of trade liberalisation, Guyana must cope with threats of trans-boundary crime and terrorism, as well.

Mr Jagdeo said, unless vulnerable economies are insulated from unfair competition, the outlook for development remains clouded and Guyana continues to make a case for additional funding and special and differential treatment.

He noted that the development agenda is “inextricably linked” to peace and security and said several problems - terrorism, drug trafficking and crime - which are now global in nature “should prompt us towards greater collaboration in seeking collective ways to rid our societies of these ills.”

Sharing Russia’s view that the world order must be based on peace and stability, President Jagdeo said Guyana will continue to advance its call for a ‘New Global Human Order’, in the belief that equity and social justice are essential to harmonious relations between peoples and states.

The Guyanese President also welcomed wider dialogue between the Caribbean Community (CARICOM) and the Russian Federation and, on the home front, new collaborative relations between this Government and the main opposition political party, People’s National Congress/Reform (PNC/R).

The Russian Ambassador, Mr Vladimir Starikov had earlier expressed hope that the political dialogue in Guyana will “bear desirable fruits”.

He assured that cooperation between Russia and the Caribbean and Latin America has been “remarkably activated” and pointed to progress in links between Russia and CARICOM and the important role Guyana and others have been playing in the process.

Starikov, alluding to a positive trend in joint efforts to enhance Russia-Guyana ties, said contacts with representatives of state and business entities “signify a new qualitative step in our bilateral relations.”

He said agreements between the Government of Guyana and Rusal and between People’s Friendship University of Russia and University of Guyana confirm the interest of the parties to enhance mutual cooperation.

Starikov said it is “especially important” that the actual development of relations, as recently discussed by President Jagdeo and President Putin, is supported by ministries and agencies and implemented in “specific, practical projects.”

The diplomat promised that the Russian Embassy will provide all necessary diplomatic help.

Ambassador Starikov also stressed that his country considers the anti-terrorist community, formed in collaboration with the U.S. to fight terrorism, is a tool for coordination of inter-state efforts to combat that evil.

“…successful cooperation in the margins of the coalition and on the basis of international law can be a good example for consolidation of civilised states in the battle against common threats,” he suggested.

The envoy said, too, that Russia, which has been undergoing positive changes, is interested in sustainable and predictable world order.