Russian, Indian Investment Bodies Agree to Jointly Work on Developing Bilateral Relations

MOSCOW (Sputnik) - The Russian Export Center (REC) and the Indian Chamber of International Business (ICIB) agreed to work together to strengthen trade and economic relations between Russia and India and promote effective interaction between the business communities of the two countries, the REC said on Wednesday.

A memorandum of understanding and cooperation was signed by REC General Director Veronika Nikishina and ICIB Executive President Manpreet Singh at the St. Petersburg International Economic Forum (SPIEF).

"The Indian market remains a priority for us, both in terms of exports and imports. Our agreement with the International Chamber of Investment and Business will allow us to build closer and more effective interaction between the businesses of our countries, find new common grounds and launch mutually beneficial projects," Nikishina said.

Singh, in turn, noted that Indian business is interested in Russia and seeks to unleash the full potential of this cooperation.

"Together with the Russian Export Center, we plan to assist in promoting Russian products on the Indian market, as well as seek opportunities to supply Russia with goods important for its market," the ICIB head said in a statement.

Under the memorandum, REC and ICIB will develop and support initiatives to strengthen economic, trade and business cooperation between Russia and India, establish cooperation between Russian and Indian enterprises, and organize meetings and events for effective interaction between the business and expert communities of the two countries.