Economy

Russia, India vow to take bilateral ties to new level

Russia, India vow to take bilateral ties to new level

He said that Russian Federation awarded its highest state honour "Order of St Andrew the Apostle" to Modi for his initiatives in developing the bilateral relationship.

The Prime Minister is now on a two-day visit to Vladivostok for participating in the 20th India-Russia annual bilateral summit and fifth edition of the Eastern Economic Forum (EEF).

"Russia is an integral friend and trustworthy partner of India. Newer areas of collaboration such as shipbuilding offer opportunities for diversifying the strong India- Russia economic ties", Kumar tweeted.

India is a key client for Russia's arms industry and trade between the two countries amounted to approximately $11 billion in 2018.

Indian Prime Minister Narendra Modi will attend for the first time.

The foreign secretary said both sides are expected to firm up a five-year roadmap 2019-2024 laying out possibilities of cooperation in oil and gas sector, in terms of exploration and exploitation, and purchase.

Politically, there are no disagreements between Russian Federation and India, so the discussion between the two strategic partners will focus on economic matters, said Alexei Kupriyanov, an analyst with the Institute of World Economy and International Relations.

At present, India relies heavily on the Gulf region for its energy requirement.

President Vladimir Putin casts his vote on Sunday. ALEXEY NIKOLSKY  AFP  Getty Images
President Vladimir Putin casts his vote on Sunday. ALEXEY NIKOLSKY AFP Getty Images

Speaking about the Afghan peace process, the two leaders said they would continue "intensive discussion" on the issue aiming to achieve an "early peaceful settlement" in the country. The vice premiers of China and North Korea will also be at the forum to discuss economic cooperation with Russian Federation.

Earlier, Modi was warmly welcomed at the Vladivostok airport on his third bilateral visit to Russian Federation.

PM Modi was given a guard of honour upon his arrival in Vladivostok, the capital of the Russian Far East. In April 2018, when Modi visited Sochi for the informal summit, Putin, in a rare gesture, accompanied the PM to the airport before his departure.

On September 5, Modi will attend the Eastern Economic Forum in as the chief guest and hold bilateral talks with several leaders on the sidelines of the event. "I look forward to discussing with my friend President Putin the entire gamut of our bilateral partnership as well as regional and worldwide issues of mutual interest", the prime minister's departure statement read. Both the leaders discussed strengthening bilateral relations in economic, defence and security fields and also bettering trade and cultural relations between the nations.

"I am confident that this visit will give a new vector, new energy and a new impetus to the relations between our countries", Modi said.

Both India and Russian Federation were against any "outside intervention" in matters related to any country, Modi said, in what is seen as a clear message to Pakistan, which has been trying to drum up global support for its stance.

The meeting will take place later today.

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