Russia and India have set a bilateral trade target of $30 billion by 2025. Source: Global Look Press
Russia and India are negotiating a new agreement on encouragement and mutual protection of investments, Yaroslav Tarasyuk, Head of the Trade representation of the Russian Federation in New Delhi told RIA Novosti on Mar. 22.
The previous agreement on investment protection will end in April.
Tarasyuk said a new agreement on protection of investments will help Russia and India to achieve the trade turnover of $30 billion by 2025.
Tarasyuk named several problems in achieving of the trade target: bad logistics, lack of financial instruments for the promotion of trade, inadequate understanding of the possibilities of bilateral trade among businesses and insufficient support of small and medium-sized businesses.
The North-South International Transport Corridor will address some of these problems, Tarasyuk said.
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