• UGI USER
  • Dec 27, 2023
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India-Russia

@DrSJaishankar

News

  • In Moscow, Deputy Prime Minister of Russia Denis Manturov and Minister of Industry and Trade Dr. S Jaishankar discussed bilateral economic cooperation between India and Russia in a thorough and fruitful meeting.
  • They observed the noteworthy advancements in the fields of commerce, finance, energy, connectivity, civil aviation, and nuclear.
  • Jaishankar was pleased that there was more of an emphasis on looking into new prospects and they talked about how to improve the bilateral cooperation in a number of areas, including sustainability and balance.
  • Additionally, they concluded the cooperation program for the Russian Far East and Eurasian Economic Union (EEU) – India FTA negotiations are expected.
  • Together, Russia and India will plan connectivity activities for both land and sea corridors.
  • The signing of agreements pertaining to nuclear power, medicines, pharmaceuticals, and medical devices was observed by both Ministers and along with Mr. Manturov, Dr. Jaishankar visited the Russian Industry and Trade exhibition.
Eurasian Economic Union (EEU)

●  Russia, Belarus, Kazakhstan, Kyrgyzstan, and Armenia are the five members of the Eurasian Economic Union.

●  The Eurasian Economic Union is a grand project aimed at bringing about economic integration in the former Soviet area.

●  Its official goals are to establish a common market akin to that of the European Union (EU).

●  By coordinating economic policies, getting rid of non-tariff trade barriers, standardizing regulations, and bringing its five member states’ economies up to date, it hopes to accomplish this.

●  Similar to the EU, the EEU has its own institutions.

●  These include a Court of the Eurasian Economic Union based in Minsk and the Eurasian Economic Commission, which serves as its regulatory body and is located in Moscow.

 

Source: Newsonair

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