Jaishankar, Russian dy PM vow to strengthen trade, energy cooperation, discuss Modi-Putin summit

External Affairs Minister S Jaishankar on Monday held talks withRussian Deputy Prime Minister Yury Borisov and discussed collaboration in key sectors such as trade, energy and space, as well as the upcoming summit meeting between Prime Minister Narendra Modi and President Vladimir Putin.

Putin has formally invited Modi to be the main guest at the Eastern Economic Forum in Vladivostok, Russia, in early September.

"Productive discussion with Russian Deputy PM Yury Borisov, co-chair of India-Russia Inter-Governmental Commission-TEC. Preparing for the September Summit between PM Narendra Modi and President Putin," Jaishankar tweeted.

Borisov, heading an 18-member strong Russian delegation representing various ministries to India, co-chaired the India-Russia Intergovernmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC) with Jaishankar.

This was their first inter-sessional meeting since the External Affairs minister assumed office, according to a Ministry of External Affairs statement.

With a view to prepare for the prime minister's forthcoming visit to Vladivostok, as the Chief Guest at the Eastern Economic Forum in early September and the next India-Russia Bilateral Summit, the two leaders held focussed discussions on bilateral cooperation in the fields of trade and investment, transport, energy, agriculture, industry, and space, it said.

The two sides noted the bilateral trade target of USD 30 billion set by the two countries to be achieved by 2025 and agreed to take a number of measures towards this end, including expediting negotiations on a trade agreement between India and the Eurasian Economic Union, examining non- tariff barriers existing on both sides and finalising a joint study which is underway to enhance bilateral economic cooperation.

The possibility of enhancing agricultural exports from both sides was also discussed, the statement said.

In the field of transport, the two sides discussed the possibilities of cooperation in the fields of shipbuilding and inland waterways, expeditiously concluding the ongoing joint study of rail speed upgradation on Nagpur-Secunderabad sector and possibility of implementation of a satellite based tolling on highways, it said.

Taking note of the longstanding cooperation in the field of oil and gas, the two sides discussed exploring opportunities for investment in both the countries.

In the field of energy, the ongoing civil nuclear cooperation was discussed, while in the context of 'Gaganyaan', India's human spaceflight program, the importance of close cooperation between the respective space agencies, ISRO and Roskosmos was reiterated, the MEA said.

The Russian deputy prime minister also congratulated the External Affairs minister on the successful launch of Chandrayaan-2.

Both sides decided to hold a full meeting of the IRIGC-TEC in New Delhi later this year.

Jaishankar had met another Russian Deputy Prime Minister Yury Trutnev in June and discussed ways to strengthen bilateral ties as well as Modi's visit to Vladivostok for the Eastern Economic Forum later this year.

Modi had met the Russian president on the sidelines of the Shanghai Cooperation Organisation Summit in Bishkek, where the two leaders reviewed all aspects of bilateral relations to further strengthen the strategic relationship.