New Delhi: India and Russia on Thursday held
wide-ranging talks aimed at expanding bilateral trade and
firming up agreements in key areas which will be inked during
the visit of Russian President Dmitry Medvedev next month.
External Affairs Minister S M Krishna and Russian Deputy
Prime Minister Sergei Ivanov held delegation-level talks at
the 16th Indo-Russian Inter-Governmental Joint Economic
Commission (IRIGC) meeting here.
During the meeting, the entire spectrum of India-Russia
trade, economic, scientific, technological and cultural
cooperation was reviewed, including ways to enhance bilateral
trade by addressing barriers like visa restrictions.
Both sides realised that economic engagement remained
"below its potential" given the size of the two economies, a
statement issued after the IRIGC said.
The meeting also set the tone for the Russian President`s
meeting with Indian leadership by firming up the agenda for
the annual Indo-Russia Summit between Medvedev and Prime
Minister Manmohan Singh. The Russian President is expected to
come around December 21.
While focusing on expanding bilateral cooperation in diverse areas, including pharmaceuticals, energy, both
conventional and civil nuclear, IT and telecommunications,
advanced and applied sciences, hydrocarbons and hi-technology,
IRIGC identified concrete steps to further develop economic
relations in priority areas of cooperation.
"Both Sides resolved to work in tandem to proactively
follow up on these discussions with a view to finalising some
key Agreements/MOUs in the economic sphere to be signed during
the forthcoming visit of Medvedev to India in December 2010
for the Indo-Russian Annual Summit," the statement said.