India, Russia sign 15 agreements

India, Russia sign 15 agreements

@PIB_IndiaIndia and Russia have signed 15 agreements in several areas taking bilateral cooperation to a new high at the 20th annual summit in Vladivostok today. 

The agreements were exchanged in the presence of Prime Minister Narendra Modi and Russian President Vladimir Putin after the restricted and delegation-level talks today. 

The agreements include four in the area of oil and gas, LNG and cooking coal, five in trade and investments, two in infrastructure and one each in defence and audiovisual production.

Later, in separate press statements, both leaders expressed satisfaction over the outcome of summit-level talks and affirmed that they are resolved to expand the bilateral relations to new areas of cooperation. Prime Minister Modi described Russia as a reliable partner and special friend.

Mr Putin, on the other hand, said the relations between the two countries are unique and mutually beneficial. 

The MoU on defence is about the production of spare parts for Russian origin arms under Make-in-India program through joint ventures. 

In his statement, Prime Minister Modi said, through this agreement, the relationship between both countries will be enhanced from buyer-seller to co-producers.

The MoUs in infrastructure relate to the establishment of maritime links between Vladivostok and Chennai to improve connectivity.  

An MoU was signed to promote mutual settlements of payments in national currencies. Both countries also signed an agreement for manpower export in view of the dearth of labour in the Far East of the Russian region. 

Other MoUs relate to the exploration of cooking coal in the Arctic region, sourcing LNG from Russia.   

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