Indo-Russian Trade To Get Zubkov Boost

NEW DELHI: Renewed efforts by India and Russia to intensify bilateral trade will get a further push when Russian Prime Minister Viktor Zubkov comes calling on New Delhi in February. The joint task force, set up recently to monitor the implementation of the programme recommended by the joint study group on enhancing bilateral trade, will be given fresh directions to carry out its operations.


Efforts are being made by the two sides not only to increase bilateral trade to $10 billion by 2010 but also pave the way for a comprehensive economic cooperation agreement (CECA). Trade between the two countries stood at an estimated $ 4 billion in 2006-07.


A commerce ministry official said it was not possible to go in for a CECA at once as Russia was yet to acquire market economy status and become a WTO member. “I think a CECA between India and Russia is feasible after two years,” he said.

Russian minister for trade German Gref will accompany the PM and hold talks with his Indian counterpart Kamal Nath on what steps need to be taken to facilitate trade. The agenda for the meeting will be firmed up soon, the official added.