September 5, 2019
During his visit, PM Modi also participated in the 5th Eastern Economic Forum as a Chief Guest
India-Russia intend on "Reaching New Heights of Cooperation through Trust and Partnership”
India’s Ministry of Petroleum and Natural Gas and Russia’s Ministry of Energy to cooperate
Various agreements were signed on cooperation in transport, mining, among other sectors
Prime Minister of India, Shri Narendra Modi paid an official visit to the Russian Federation, on the invitation of President Vladimir Putin, to attend the 20th India-Russia Annual Summit, held in Vladivostok, and participate in the 5th Eastern Economic Forum as a Chief Guest over September 4-5. Noting the progressive development of the Special and Privileged Strategic Partnership between India and Russia, both leaders prioritised establishing areas of cooperation through a collection of signed Agreements and Memorandums of Understanding (MoUs).
A Joint Statement on “Reaching New Heights of Cooperation through Trust and Partnership” was presented, along with a Joint Strategy for the Enhancement of India- Russia Trade and Investments. The meeting saw Agreements between India and Russia on the production of spare parts for Russian/Soviet military equipment, on cooperation in Audiovisual Co-production, and on cooperation between Joint-Stock Company Rosgeologia and Srei Infrastructure Finance Limited. It also oversaw cooperation agreements between Invest India and the Russian Direct Investment Fund for Investment Collaboration, as well as between the Federation of Indian Chambers of Commerce and Industry the Roscongress Foundation.
Meanwhile, the Ministry of Petroleum and Natural Gas of India and Russia’s Ministry of Energy intend to expand cooperation in oil and gas sector, encouraging growth for both countries, while cooperation between the Central Board of Indirect Taxes and Customs, Ministry of Finance, Republic of India and the Federal Customs Service (Russian Federation), aims at combating customs violations between 2019-2022.
In addition, the following MoUs were signed for cooperation in a variety of sectors –
India and Russia have both committed to foreign policy cooperation that prioritises growth and development in each country. A strategic partnership between the two nations creates sustained opportunities for investment in a challenging global climate.