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Indo-Russian trade up by 39% - Minister of Commerce
13 Dec '06
1 min read
The India-Russia bilateral trade has increased by 39.3 percent from US$ 1.95 billion in 2004-05 to US$ 2.72 billion in 2005-06.
However, with a view to further increasing the two countries' bilateral trade turnover to USD 10 billion by 2010, a Memorandum of Understanding on Cooperation between the Minister of Commerce and Industry and the Minister of Economic Development and Trade of the Russian Federation has been signed on 6th February 2006 to set up Joint Study Group (JSG) between India and Russia.
India and Russia to prepare a program on significant increase of mutual trade turnover between India and Russia with an overall objective of diversifying and strengthening the bilaterial relations in a wide range of areas, particularly with regard to trade in goods and services, investment and economic cooperation as well as feasibility to conclude the Comprehensive Economic Cooperation Agreement between the Government of the Republic of India and the Government of the Russian Federation.
This was stated by the Minister of State for Commerce & Industry, Shri Jairam Ramesh, in a written reply in the Lok Sabha.
However, with a view to further increasing the two countries' bilateral trade turnover to USD 10 billion by 2010, a Memorandum of Understanding on Cooperation between the Minister of Commerce and Industry and the Minister of Economic Development and Trade of the Russian Federation has been signed on 6th February 2006 to set up Joint Study Group (JSG) between India and Russia.
India and Russia to prepare a program on significant increase of mutual trade turnover between India and Russia with an overall objective of diversifying and strengthening the bilaterial relations in a wide range of areas, particularly with regard to trade in goods and services, investment and economic cooperation as well as feasibility to conclude the Comprehensive Economic Cooperation Agreement between the Government of the Republic of India and the Government of the Russian Federation.
This was stated by the Minister of State for Commerce & Industry, Shri Jairam Ramesh, in a written reply in the Lok Sabha.
Press Information Bureau Government of India
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