Addressing the Russia-India Business Dialogue, Russian Deputy Prime Minister Manturov said, together with the Eurasian Economic Commission, we look forward to accelerating negotiations on a Free Trade Agreement with India.
Foreign Minister S. Jaishankar met Russian Deputy Prime Minister Denis Manturov in New Delhi on Tuesday. Denis Manturov is on a two-day visit to India. This is the second meeting between Jaishankar and Manturov in two days. Manturov is also the Minister of Industry and Trade of Russia.
Addressing the Russia-India Business Dialogue, the Russian Deputy Prime Minister and Trade Minister said that the two countries are negotiating a free trade agreement with the Eurasian Economic Commission. He said that Russia is trying to increase trade with India.
In an event organized by the Indian Chamber of Commerce and Russia India Business Council, the Russian minister said that we are trying to sign a bilateral agreement between the two countries. The Russian Deputy Prime Minister said that India and Russia are also focusing on increasing air connectivity.
The Russian minister said that logistics have been affected due to Corona, as well as the imposition of sanctions against Russia by Western countries has increased inflation in many countries. Restrictions have increased difficulties in international transport, cargo and financial transactions.
External Affairs Minister S Jaishankar also addressed the India-Russia business dialogue programme. “We have crossed the bilateral trade target of USD 30 billion before the year 2025. He hoped that it would continue to grow. Jaishankar said that India and Russia need to motivate businesses on both sides.
#WATCH , New Delhi: EAM S Jaishankar meets Russian Deputy Prime Minister Denis Manturov. pic.twitter.com/kIKLImbm6n
— ANI (@ANI) April 18, 2023
A day before this, External Affairs Minister S Jaishankar had said that India-Russia relations are the most ‘enduring’ among the major global relations. Along with this, he also underlined the need to deal with the issue of trade imbalance and increase bilateral economic cooperation.
Jaishankar said that at a time when Russia is looking more towards Asia, Russian resources and technology can make a strong contribution to India’s progress. Jaishankar referred to the understandable concerns of trade imbalance in economic ties between India and Russia and said that the issue needs to be addressed on an urgent basis.
India, Russia discussing free trade agreement, S Jaishankar meets Denis Manturov