EVIAN, October 8 (RIA Novosti) - Russian President Dmitry Medvedev called on Wednesday for tougher financial regulations to tackle the global financial crisis.

Speaking at an international policy conference in France, Medvedev also said market players, including ratings agencies, must have greater responsibilities.

"Every market player must outline its share of risks and responsibility from the outset... there must be no illusions that assets can appreciate eternally," Medvedev told the World Policy Conference in Evian, eastern France.

Medvedev welcomed French President Nicolas Sarkozy's proposal to hold an international meeting before the end of this year to tackle the current crisis and outline measures to prevent slumps in the future. He also welcomed Sarkozy's suggestion to establish a common economic space between the European Union and Russia.

Medvedev said apart from the Group of Eight industrialized nations, the meeting should also involve emerging economic giants China, India, Brazil, Mexico and South Africa.

Speaking about ties with Russia, Sarkozy said the EU wanted deeper cooperation with Moscow and urged the signing of a comprehensive cooperation pact with Russia, talks on which were last suspended in September in the wake of the Russia-Georgia conflict.

"Differences must be settled. Russia must go the way toward signing the framework [cooperation] treaty," Sarkozy said.