“We await much from Vladivostok,” Indian Foreign Minister Subrahmanyam Jaishankar told Kommersant business daily during a visit to Moscow on Wednesday. The official held talks with his Russian counterpart, Sergey Lavrov, to discuss how the EEF may help boost ties between the two countries.
The summit is to take place between September 4 and 6, with President Vladimir Putin sheduled to meet the Indian Prime Minister Narendra Modi there.
And there are quite a number of topics that could hit the agenda.
Free trade zone between India & Eurasian Economic Union
Following his talks with Jaishankar, Lavrov announced that all preparations for discussions about a free trade zone between India and the Eurasian Economic Union – a bloc which includes Russia as well as some former Soviet Republics – have been finished.
Lavrov said negotiations should begin as soon as possible, adding that they would “mark a milestone” for India’s work with the union. Other economic issues on the agenda may include the use of national currencies in trade and mutual payments, as well as India’s investment projects in Russia’s Far East. Jaishankar said he sees “huge” potential for growth here.
Energy projects in the Arctic
It is not just Russia’s Far East that is likely to attract New Delhi. In mid-August, India and Russia held talks on potential joint gas projects in the Arctic. At that time, India’s Minister of Trade and Industry Piyush Goyal said that his country seeks to “base our economy entirely on gas” while praising energy cooperation with Russia.
Jaishankar also spoke of the importance of close energy cooperation between Moscow and New Delhi as the latter imports “most of its energy resources.”
Deeper defense ties
Russia and India could further expand joint production of modern weapons, Lavrov said ahead of the Vladivostok summit. New Delhi has been one of Moscow’s biggest customers in the arms trade for decades and India now operates a host of Russian-made weapons from battle tanks like the T-90 to military aircraft such as MiG-29 or Su-30MKI fighters.
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