GUWAHATI: In a bid to strengthen trade and economic cooperation, India and Russia are actively pursuing the establishment of an alternative trade route that would connect the historic port cities of Vladivostok in Russia and Chennai.
Discussing the initiative on the eve of his visit to Russia to represent the country at the Eighth Eastern Economic Forum at Vladivostok on Monday, Union Minister of Ports, Shipping and Waterways and Ayush, Sarbananda Sonowal expressed optimism that his visit will advance the initiative.
“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. I believe during my visit and meetings with the leadership of Russia, we will be able to make progress in this important venture apart from fostering strategic, trade and logistical cooperation between the two countries,” he said.
The four-day forum that will go on till September 13 on the Far Eastern Federal University (FEFU) campus, serves as a vital international platform for forging connections within the Russian and global investment communities. During his visit, Minister Sonowal will also explore the potential for collaboration on the Northern Sea Route and the establishment of a Transshipment Hub in the Bay of Bengal, further enhancing bilateral relations between India and Russia.
Minister Sonowal is set to meet key Russian officials, including Alexey Chekunkov, Minister for the Development of the Russian Far East and Arctic, and Vitaly Saveliev, Minister for Transport of Russia, among others.
The Eastern Economic Forum, established in 2015 by the President of the Russian Federation Vladimir Putin, aims to support the economic development of Russia’s Far East and expand international cooperation in the Asia-Pacific region.
The event provides a comprehensive platform for evaluating the economic potential of the Russian Far East, investment opportunities, and business conditions within advanced special economic zones.
