G7 to hold outreach dinner with Russia Friday: U.S.

WASHINGTON (Reuters) - A top U.S. Treasury official said on Wednesday that finance chiefs of the Group of Seven major industrial countries had invited Russia to dinner Friday, putting aside differences over its invasion of Georgia.

"The outreach dinner will be the G7 countries, and Russia will be a participant as well," said Treasury Under Secretary David McCormick, referring to dinner after a formal G7 meeting of finance ministers and central bank chiefs on Friday.

"It is an opportunity for the ministers and central bankers to meet, talk about some of the situations in their own countries, potentially learn from the experiences of others," he told a news briefing on the upcoming G7 meeting.

Russia was slammed by the United States and European members of the G7 for its August invasion of Georgia.

Washington has also warned that Russia's actions threatened its participation in a number of global diplomatic, economic and security bodies, including the Group of Eight, and jeopardized Moscow's bid to join the World Trade Organization.

Asked about China, McCormick said it was a key partner in U.S. talks about the best way to tackle the current global financial crisis. Beijing joined the Federal Reserve, European Central Bank and other monetary authorities on Wednesday in cutting interest rates, marking the first such coordinated global policy move in history.

"(Treasury Secretary Henry) Paulson and I have been in regular contact with our Chinese counterparts. China plays an enormously important role in the global economy, and we view them as an important part of our global engagement," he said.

(Reporting by Alister Bull)