India and Russia have agreed to set up a joint study group to study the scope of the Comprehensive Economic Cooperation Agreement (CECA) with member-countries of the Customs Union such as the Russian Federation, Kazakhstan and Belarus. The Russian side was requested to steer the process for CECA within the Eurasian
India and Russia have agreed to set up a joint study group to study the scope of the Comprehensive Economic Cooperation Agreement (CECA) with member-countries of the Customs Union such as the Russian Federation, Kazakhstan and Belarus.
The Russian side was requested to steer the process for CECA within the Eurasian Economic Commission.
Both sides also reviewed the progress of identified priority projects.
These projects include the establishment of joint stock Indo-Russian enterprises for manufacturing light helicopters Ka-226T as well as plant construction for manufacturing butyl rubber with a capacity of 100,000 tonnes per year at the production site in Jamnagar.
“Seeking to further strengthen the special and privileged strategic partnership and specifically to enhance the economic and investment cooperation between India and Russia on a bilateral basis, we have identified investment projects and proposals for special attention,” Sharma said.
Bilateral trade between India and Russia stood at $6.5 billion