The two sides expressed their readiness to intensify trade and investment cooperation in the Far East and the Arctic zone of the Russian Federation…reports Asian Lite News
India and Russia on Tuesday expressed readiness to actively work to expand logistics links with an emphasis on increasing the capacity of infrastructure, including for implementation of the Chennai-Vladivostok Eastern Maritime Corridor and the International North-South Transport Corridor, as well as using the potential of the Northern Sea Route.
The joint Statement following the 22nd India-Russia Annual Summit said the two sides share approaches on building a new architecture of stable and efficient transport corridors, and pay close attention to the development of promising production and marketing chains in Eurasia, including for the purpose of implementing the idea of a Greater Eurasian space.
The statement was issued following talks between Prime Minister Narendra Modi and Russian President Vladimir Putin.
It said the two sides will continue joint efforts to intensify the use of INSTC route in order to reduce the time and cost of cargo transportation and to promote connectivity in the Eurasian space.
Cooperation in the field of transport and logistics will be based on the principles of transparency, broad participation, local priorities, financial sustainability and respect for sovereignty and territorial integrity of all nations, the statement said.
“The Sides support cooperation in developing shipping between Russia and India via the Northern Sea Route. For this purpose, they expressed readiness to establish a joint working body within the IRIGC-TEC for cooperation within the Northern Sea Route.”
The two leaders noted with satisfaction the results of the meeting of the Sub-Working Group on Civil Aviation (February, 2023) in Moscow. They agreed to cooperate in the field of civil aviation and civil aviation security.
India and Russia reiterated the importance of the robust and wide-ranging cooperation in the energy sector as a significant pillar of the Special and Privileged Strategic Partnership. In this context, they noted the continued special importance of bilateral trade in energy resources and agreed to explore new long-term contracts.
The sides appreciated the ongoing cooperation in the coal sector and agreed to explore the possibility for further increasing supply of coking coal to India, and the opportunities of exporting anthracite coal from Russia to India.
The two sides expressed their readiness to intensify trade and investment cooperation in the Far East and the Arctic zone of the Russian Federation.
In this regard, they welcomed the signing of the Program of India-Russia cooperation in trade, economic and investment spheres in the Russian Far East for the period from 2024 -2029, as well as of cooperation principles in the Arctic zone of the Russian Federation.
The Program of Cooperation will provide the necessary framework for further cooperation between India and the Russian Far East region, especially in the sectors of agriculture, energy, mining, manpower, diamonds, pharmaceuticals, maritime transport.
The two sides reiterated the need for the development of interregional dialogue between the regions of the Russian Far East and the Indian States and encourage the establishment of twinning relations to develop business, trade, educational, cultural exchanges and projects.
The Russian side invited interested Indian investors to implement high-tech investment projects within the framework of the Territories of Advanced Development in the Russian Far East.
The Indian Side appreciated participation of the delegation of the Russian Ministry of Far East and Arctic Development in the Vibrant Gujarat Global Summit in January 2024
The Russian Side welcomed the participation of Indian delegations in the Saint Petersburg International Economic Forum (June 2023) and the Eastern Economic Forum (September 2023).
The Sides noted the contribution of India-Russia Business Dialogue organized on the sidelines of these economic forums for the promotion of bilateral trade, economic and investment cooperation.
India and Russia noted the importance of cooperation in the peaceful uses of nuclear energy as a significant component of the strategic partnership. (ANI)
PM joins Austrian Chancellor for dinner in Vienna
Prime Minister Narendra Modi joined dinner hosted by Austria Chancellor Karl Nehammer, where he was greeted by members of the Indian diaspora.
Modi landed in Austria on Wednesday where he was welcomed by Indian Ambassador to Austria Shambhu Kumaran and Austrian Foreign Minister Alexander Schallenberg.
Austria’s Foreign Minister Alexander Schallenberg extended a warm welcome to Prime Minister Narendra Modi and said “A warm welcome to Indian PM @narendramodi on his historic visit to Austria, marking 75 years of diplomatic relations. The partnership between our nations is based on a joint commitment to global security, stability and prosperity.”
Following this, Austrian Chancellor Karl Nehammer also welcomed PM Modi, calling India a friend and partner adding that he also stated that he looked forward to discussing politics and economics during the visit.
“Welcome to Vienna, PM @narendramodi ! It is a pleasure and honour to welcome you to Austria. Austria and India are friends and partners. I look forward to our political and economic discussions during your visit!,” Karl Nehammer wrote in a post on X while sharing a selfie with PM Modi.
In response to Nehammer’s warm welcome, PM Modi thanked him and stated India and Austria will continue to work together.
In a post on X, PM Modi said while sharing some really good pictures of him and Nehammer, “Thank you, Chancellor @karlnehammer, for the warm welcome. I look forward to our discussions tomorrow as well. Our nations will continue working together to further global good.”
Notably, this is the first time an Indian Prime Minister has visited Austria in 41 years. In 1983, Indira Gandhi was the last PM to visit the country. (ANI)
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