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Trade, economy with Russia top priority: Sushma

Trade, economy with Russia top priority: Sushma

India shares the “best” political relations with Russia, and trade and economic ties are a top priority, External Affairs Minister Sushma Swaraj said on Wednesday.

Speaking at the India-Russia Business dialogue during the Eastern Economic Forum, Sushma Swaraj also said that the dialogue was a continuation of Prime Minister Narendra Modi and Russian President Vladimir Putin’s meeting in St. Petersburg earlier this year when both leaders together met the CEOs of both countries.

“Politically, India has the best of relations with Russia. We have been partners for seven decades, and our friendship has expanded to almost all sectors of human activity,” Sushma Swaraj said.

“Both our governments have identified trade and economic relations as a top priority in our overall partnership. This year India has the unique record of participating in all major Forums in Russia. In St. Petersburg in June, India was the Guest Country for the first time,” she said.

Russian Far East is one of the richest regions in the world and India is among the fastest growing large economies of the world, she said.

“There is lot that can be done together. When other markets are closing we need to find new ones and create virtuous cycles of investment. Investment is in the ultimate analysis an act of faith.”

The Minister added that there is a need to identify what actions the two governments should take to further facilitate investments and trade.

She added that greater trade, commerce and investment with the Russian Far East will help “us in achieving the target of $30 billion that we have set for our bilateral trade by the year 2025”.

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