New Delhi, August 23, 2013: The Union Minister of Commerce and Industry Shri Anand Sharma today met Mr. Alexey Valentinovich Ulyukaev, Minister of Economic Development, Russia at the sidelines of ASEAN Ministerial meeting in Brunei. Shri Sharma congratulated Mr. Ulyukaev on assuming charge of Minister of Economic Development of Russia. Shri Sharma reaffirmed the special relationship India enjoys with Russia which has been time tested, stable and strong over the decades. “We now have to take this economic cooperation forward to achieve the target of USD 20 billion bilateral trade,” said Shri Sharma. The Russian Minister raised the issue of protection of Russian investment in India and asked for early conclusion of Bilateral Investment Protection Agreement (BIPA).
Shri Sharma requested Russia for early realization of the proposed trilateral Customs Union involving Russia, India and Kazakhstan. Talking about specific sectors, Shri Sharma referred to the Memorandum of Understanding on Pharmaceuticals which was signed in 2010 and remains to be implemented. He underlined the aspects of quality and cost effectiveness of Indian generic medicines which will greatly benefit Russia. In addition to this, Shri Sharma called for resolution of sanitary and phytosanitary (SPS) measures concerning standards of Indian agriculture exports to Russia.
The Indian Minister particularly raised the issue of temporary suspension of Indian rice export to Russia and sought market access for Indian bovine meat. With the strict regulatory system which has been put in place in India, Shri Sharma asked Mr. Ulyukaev to review the rice export suspension. Shri Sharma looked forward to the meeting of Trade and Investment Forum to be held in Russia next month.
Later, Shri Sharma also held bilateral meeting with Mr. Toshimitsu Motegi, Minister for Economy, Trade and Industry of Japan. Mr. Motegi said that he was looking forward to his visit to India on 11th September, along with a high level business delegation to further enhance bilateral trade and investment cooperation. Shri Sharma expressed satisfaction over the Japanese cooperation in Delhi- Mumbai Industrial Corridor (DMIC) where work has already commenced in some of the early bird projects with Japanese participation. Shri Sharma also shared the current status of the National Investment and Manufacturing Zone (NIMZ) under which integrated townships are coming up in India. The Japanese Minister appreciated the role being played by India in the ongoing Doha Round of Negotiations and expected to achieve tangible results in the Bali round of negotiations. Japan agreed to work closely with India with a view to realize a balanced outcome of the Doha Round of Negotiations. Mr. Motegi looked forward to discuss this matter further during his visit to India in September, 2013. — CCI Newswire
