India, Russia hold talks to boost economic cooperation

Saturday, 18 March 2017 17:06

NEW DELHI: Russian Deputy Prime Minister Yuri Trutnev today held discussions with External Affairs Minister Sushma Swaraj on ways to boost economic cooperation including in the energy and diamond processing sectors.

"The two leaders discussed wide-ranging issues regarding India-Russia economic relations. They agreed that the privileged strategic partnership between India and Russia is based on long-standing and time-tested ties, is very deep and extends to all spheres of mutual interest," an External Affairs Ministry release said.

They also discussed issues related to further strengthening of trade and investment cooperation between India and the regions of the resource-rich Russian Far East, it said. Swaraj specifically stressed the growing mutual beneficial ties between India and Russia in the energy sector, particularly in the Russian Far East, it said.

She also emphasised on cooperation in maritime and agricultural sector, and on institutional linkages between the countries in these areas, and hoped that the mutual complementary strength of India and Russia in the diamond sector will be exploited fully.

The leaders agreed that the forthcoming interaction between the leaders of the two countries and various ministerial interactions will provide further thrust to the development of economic cooperation between India and Russia.

Prime Minister Narendra Modi is scheduled to travel to Russia on June one to attend St Petersburg International Economic Forum (SPIEF). He will also be holding a bilateral Summit with Russian President Vladimir Putin.

Swaraj also thanked Trutnev for inviting India for participation in the Third Eastern Economic Forum to be held in Vladivostok in September this year.

Trutnev also addressed a business event which concluded with the signing of an MoU between Invest India and the Far East Investment and Export Agency.

The visit of the Russian deputy prime minister, which started from Mumbai, was primarily aimed at spreading awareness among the Indian business community regarding the opportunities for investment available in the Far-Eastern Region of Russia.

"Given the considerable economic potential and our willingness for greater interaction with this region, the visit has enabled further consolidation of bilateral cooperation in the areas of mining, diamond processing, infrastructure (ports etc), agriculture and agro-processing," the release added.

http://economictimes.indiatimes.com

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