Commerce Secretary Rajesh Agrawal traveled to Moscow for talks with Russian officials regarding a proposed free trade agreement between India and the Eurasian Economic Union. The secretary conferred with Andrey Slepnev from the Eurasian Economic Commission and Mikhail Yurin from Russia's Industry and Trade Ministry while also speaking at a business networking event attended by corporate leaders from both nations.
The negotiations focused on achieving a bilateral trade target of 100 billion dollars while addressing supply chain resilience, market diversification, and cooperation in sectors including pharmaceuticals, telecommunications equipment, machinery, leather goods, automobiles, and chemicals. Officials established quarterly regulatory consultations to resolve certification challenges, agricultural and marine product listings, and other non-tariff barriers. Both governments agreed to pursue an 18-month work plan following the terms of reference signed in August that aims to expand opportunities for Indian exporters, including small businesses, farmers, and fishermen.
The negotiations focused on achieving a bilateral trade target of 100 billion dollars while addressing supply chain resilience, market diversification, and cooperation in sectors including pharmaceuticals, telecommunications equipment, machinery, leather goods, automobiles, and chemicals. Officials established quarterly regulatory consultations to resolve certification challenges, agricultural and marine product listings, and other non-tariff barriers. Both governments agreed to pursue an 18-month work plan following the terms of reference signed in August that aims to expand opportunities for Indian exporters, including small businesses, farmers, and fishermen.
