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Russia inks agreements to boost two-way trade

03
Mar '07
Three agreements were inked at the recently held meeting of Russian-Portuguese Economic, Industrial and Technical Co-operation Commission in Lisbon, which was co-chaired by Minister for Economy and Innovations Manuel Pinho and Vice Premier Sergei Naryshkin.

Agreements included a contract to buy land near Sines for Russia's National Gas Company to set up a Euro65 million ethylene unit, an agreement for forming a business council and an intergovernmental one for collaboration in tourism.

Joint ventures and technological support were also discussed in the Lisbon meeting. More than 70 Portuguese and Russian enterprises, which deal in finance, construction and equipments, had sent their representatives here.

Naryshkin informed media persons that bilateral trade, which stands at US $1 billion, is witnessing an upturn. Both countries need to diversify their markets to better two-way trade.

Russian businessmen are planning investments in Portugese firms. Corporate and business contacts between both nations will play a major role.


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