Union Minister Sarbananda Sonowal left for Russia to represent India at the Eastern Economic Forum which is being held at the Russian port city of Vladivostok, reports ET Infra.
The Minister for Ports, Shipping and Waterways and Ayush is scheduled to meet Alexey Chekunkov, Minister for the Development of the Russian Far East and Arctic; Vitaly Saveliev, Minister for Transport of Russia among others with an objective to maintain strong ties and foster strategic, trade and logistical cooperation across various sectors, the Ministry of Ports, Shipping and Waterways said.
The eighth Eastern Economic Forum is taking place from September 10 to13 in Vladivostok. The forum was established in 2015 to support the economic development of Russia’s Far East and to expand international cooperation in the Asia-Pacific region.
Sonowal will address the India-Russia Business Dialogue at the Eastern Economic Forum and will highlight the pivotal role of trade, commerce and business in fostering stability and sustainability within the special and privileged strategic partnership between India and Russia.
India’s Shipping Minister will also be speaking at the session on the Eastern Maritime Corridor, while also meeting senior ministers of the Russian Federation on possibilities to further strengthen the bilateral relation between the two countries, including exploring possibilities of the Northern Sea Route and establishing a Trans-Shipment Hub in the Bay of Bengal.
The Eastern Maritime Corridor is aimed at reducing cargo transit time.
The journey from Indian ports to the Russian Far East takes just 24 days, compared to 30 days through the port of Novorossiysk, an official release said, adding that this corridor holds immense potential to unlock new opportunities for trade and cooperation for both India and Russia.
Sonowal said the historic ties between India and Russia have reached a new height as the two countries strengthen mutual trade and commerce. “In view of this renewed vigour in the Indo-Russian relationship, we have been working together to develop an alternative trade route between historic port cities of Vladivostok in Russia and Chennai in India,” he said.
