File Photo of Sarbananda Sonowal.
Credit: PTI File Photo
Minister Sarbananda Sonowal, leading an Indian delegation, arrived here on Monday, enroute to Vladivostok, where he will take part in the 8th Eastern Economic Forum, which will be addressed by Russian President Vladimir Putin.
The 8th Eastern Economic Forum meeting is being held in the Russia's far eastern city from September 10-13.
Sonowal is scheduled to meet Alexey Chekunkov, Minister for the Development of the Russian Far East and Arctic and Vitaly Saveliev, Minister for Transport of Russia among others with an objective to maintain strong ties and foster strategic, trade and logistical cooperation across various sectors, official sources said.
The union minister of ports, shipping and waterways will be addressing the India Russia Business Dialogue at the Eastern Economic Forum where he will be highlighting the pivotal role of trade, commerce and business in fostering stability and sustainability within the special and privileged strategic partnership between India and Russia.
He will also be speaking at the session on Eastern Maritime Corridor, while also meeting senior ministers of Russian Federation on possibilities to further strengthen the bilateral relation between the two countries, including exploring possibilities of the Northern Sea Route and establishing a Trans Shipment Hub in the Bay of Bengal.
The Eastern Maritime Corridor is aimed at reducing cargo transit times between India and Russia. The journey from Indian ports to the Russian Far East takes just 24 days, compared to 30 days through the port of Novorossiysk.
This corridor holds immense potential to unlock new opportunities for trade and cooperation for both India and Russia.
Delegations from China, Laos, Mongolia and ASEAN countries are also participating in the meeting in the Russian city.
Putin will be in Vladivostok on September 11–12 to take part in the 8th Eastern Economic Forum, according to a statement issued by the Kremlin.
On September 12, the President of Russia will deliver a speech at the plenary session in which Vice President of the Lao People's Democratic Republic Pany Yathotou will also take part, the statement said.
Putin will also hold a number of bilateral meetings with the heads of foreign delegations on the sidelines of the forum, it said.
However, it was not immediately known whether Sonowal will meet Putin.
'It is indeed a matter of great honour and responsibility that I was provided with the opportunity to lead our great country at the prestigious Eastern Economic Forum. Under the dynamic leadership of Prime Minister Narendra Modi, the historic ties between India and Russia has reached a new height as we strengthen our trade and commerce. In view of this renewed vigour in the Indo Russian relationship, we have been working together to develop an alternative trade route between historic port cities of Vladivostok in Russia and Chennai in India.
'I believe during my visit and meetings with the leadership of Russia, we will be able to make progress in this important venture apart from fostering strategic, trade and logistical cooperation between the two countries,' Sonowal said in a pre-departure statement in New Delhi.
Anton Kobyakov, Adviser to the President of the Russian Federation and Executive Secretary of the EEF 2023 Organising Committee, said the forum traditionally offers strategic solutions for the comprehensive development of the Far East.
'The joint participation of government and business representatives, the expert community and leading economists makes it possible to find new approaches to addressing current challenges,' he said.
Sources said Russia has shown interest in India's presence at the Vladivostok port. Russia is keen to accord further momentum to the Chennai-Vladivostok maritime corridor, which could give a huge boost to maritime ties.
Vladivostok is the largest Russian port on the Pacific Ocean and it is located about 50 km from the China-Russia border.
The Eastern Economic Forum is a key international platform for establishing and strengthening ties within the Russian and global investment communities, and for comprehensive expert evaluation of the economic potential of the Russian Far East, the investment opportunities it offers, and business conditions within advanced special economic zones.
The Forum was established by a decree of the Russian president in 2015 to support the economic development of Russia's Far East and to expand international cooperation in the Asia-Pacific region.