Russian President Dmitry Medvedev said Thursday it is important to vitalize small and mid-sized enterprises (SMEs) for the sake of economic stabilization.

Giving an opening speech at the first-session roundtable of the Seoul G20 Business Summit, Medvedev pinpointed the role of SMEs in boosting up employment, productivity and demand, which, according to the head of Russia, all were currently at stake.

"Accordingly, it is important to revitalize the global economy, possibly via creating an environment friendlier towards SMEs," the president told the roundtable.

Under the goal of creating a new mechanism that SMEs could more easily approach, the G20 countries should all make efforts, said Medvedev.

The president also commented on expanding financial support to SMEs, stressing a need to make progress on the issue.

Following the president's remarks, leaders at the Business Summit joined discussions regarding SMEs on the ground of trade and investment, which was the theme of the first roundtable session.

Parallel with the session on trade and investment, participants allocated to other sessions shared views on a range of issues including finance, green growth, and corporate social responsibilities (CSR).

The Seoul G20 Business Summit, held on the sidelines of the G20 Seoul Summit, is to wrap up later in the day, expected to end with results to be delivered to the G20 heads of state.