India and Russia signed nine MoUs and agreements in several areas, including trade, climate and research, during Prime Minister Narendra Modi’s two-day visit to Moscow that concluded on Tuesday.
According to the list of agreements and MoUs released by the Ministry of External Affairs, to facilitate further growth in trade and joint investment projects between the Far East region of Russia and India, the two countries signed a programme of bilateral cooperation in trade, economic and investment spheres in the Russian Far East for the period 2024 to 2029, as well as principles of cooperation in the Arctic region of the Russian Federation.
To facilitate investments by Russian companies in the Indian market by promoting investment cooperation, a Joint Investment Promotion Framework Agreement was signed between Invest India and JSC “Management Company of the Russian Direct Investment Fund”.
A Memorandum of Understanding (MoU) was signed between the Trade Promotion Council of India and the All-Russian public organization “Business Russia” to promote bilateral trade and investment, hold B2B meetings and business promotion events, and exchange business delegations.
A Memorandum of Understanding was signed between the Ministry of Environment, Forest and Climate Change and the Ministry of Economic Development of the Russian Federation on issues of climate change and low-carbon development.
Under this agreement, a joint working group will be established on issues of climate change and low carbon development. Apart from this, research will also be co-hosted for exchange of information, best practices and development of low-cost technologies.
A Memorandum of Understanding was also signed between the National Centre for Polar and Ocean Research of India and the Arctic and Antarctic Research Institute of Russia for cooperation in research and logistics in polar regions.
A cooperation agreement was signed between the Indian International Arbitration Centre and the International Commercial Arbitration Court at the Chamber of Commerce and Industry of the Russian Federation. The agreement aims to facilitate the settlement of civil law disputes of a commercial nature.
Other MoUs signed include those between the Survey of India and the Federal Service for State Registration, Cadastre and Cartography of the Russian Federation; cooperation and collaboration on broadcasting between Prasar Bharati and ANO “TV-Novosti” (Russia Today TV channel); and between the Indian Pharmacopoeia Commission and the Federal State Budgetary Institution of Russia “Scientific Centre for Expert Evaluation of Medicinal Products”.
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