India And Russia Express Satisfaction That $25 Billion Target Of Bilateral Trade Has Been Achieved

Prime Minister Narendra Modi met Vladimir Putin, President of the Russian Federation on the sidelines of the 11th BRICS summit at Brasilia on 13 November 2019. During the meeting both leaders reviewed the progress made in the bilateral relationship since PM's visit to Vladivostok. PM specifically mentioned the successful visits of our Minister of Defence and Minister of Petroleum and Natural Gas to Russia. The two leaders noted with satisfaction that the USD 25 billion target of bilateral trade by 2025 has already been achieved. The two leaders decided that the 1st Bilateral Regional Forum at the level of Russian Provinces and Indian States be held next year to dismantle the barriers of trade at regional level.

The two leaders noted the stability and progress made in imports of oil and natural gas. President Putin highlighted the potential of Arctic region in natural gas and invited India to invest in the region. The two leaders also reviewed the progress made in the field of Infrastructure particularly railways in context of raising the speed of the Nagpur-Secunderabad sector railway line. The leaders also noted with satisfaction the cooperation in Defence sector and in the field of Civil Nuclear Energy. They welcomed the prospects of cooperation in civil nuclear energy in third countries.

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