Sunday , July 23 2017
Home / News / World / PM Modi to discuss mutual trade and cooperation in Moscow

PM Modi to discuss mutual trade and cooperation in Moscow

Indian Prime Minister Narendra Modi, left, Russian President Vladimir Putin walk during the Shanghai Cooperation Organization (SCO) summit in Ufa, Russia, Friday, July 10, 2015. (RIA Novosti Pool Photo via AP)

Moscow: Prime Minister Narendra Modi will focus on further steps for boosting trade with Russia in his talks with President Vladimir Putin during his official two-day visit to Moscow.

Prime Minister Modi and the Russian President are expected to discuss topical global and regional issues and prospects for cooperation in multilateral organisations, primarily at the United Nations, BRICS and the Shanghai Cooperation Organisation (SCO).

According to TASS, following the talks, a number of bilateral agreements are expected to be inked, in particular on transport, trade, energy and reciprocal trips of the citizens. Economic cooperation will be the focus of the talks.

Prime Minister Modi arrived in Russia at Putin’s invitation on a two-day official visit. Their last meeting took place on July 8 in the Russian city of Ufa on the margins of the BRICS and SCO Summits.

Russia’s share in India’s trade hovered around one percent. In January-October 2015, the volume of trade with India amounted to USD 6.2 billion, shrinking 14.4 percent.

Along with this, the Kremlin is hopeful on promotion of bilateral relations in energy, in exports of Russian energy resources to the Indian market, in high-tech industries, in metallurgy and space.

Besides, the Kremlin noted cultural cooperation, humanitarian contacts and tourism as an important pillar of bilateral discussion. Last year 16,000 Indians visited Russia, while 2,17,000 Russians went to India.