MOSCOW (Pakistan Point News / Sputnik - 06th October, 2018) Russian President Vladimir Putin visited on Friday India where he met with country's Prime Minister Narendra Modi.
During the talks Putin and Modi discussed a number of issues related to the bilateral economic, security and military cooperation as well as the countries' cooperation in multilateral formats. One of the key agreements reached during the talks was India's decision to purchase Russian S-400 air defense systems.
Putin also invited Modi to visit the 2019 Eastern Economic Forum. The Indian prime minister accepted Putin's invitation to visit Russia next year.
According to Kremlin spokesman Dmitry Peskov, Moscow and Delhi signed a contract on supplies of Russian S-400 Triumph air defense systems (NATO reporting name SA-21 Growler), which are next-generation long and multiple range surface-to-air missile systems.
The move was welcomed by Putin and Modi, according to the joint statement released after Friday's summit.
"The sides welcomed the conclusion of the contract for the supply of the S-400 Long Range Surface to Air Missile System to India," the document read.
OTHER ISSUES OF SECURITY, MILITARY COOPERATION
S-400 supplies was not the only issue of the Russian-Indian bilateral security and military cooperation that was discussed by Putin and Modi.
"The Sides reaffirmed their commitment to enhance military technical cooperation between India and Russia, which has a long history of mutual trust and mutual benefit. Both Sides expressed satisfaction at the significant progress made on the ongoing projects of military technical cooperation and recognized the positive shift towards joint research and joint production of military technical equipment between the two countries," the joint statement said.
At the same time, Peskov noted that the parties had failed to sign an agreement to supply India's Navy with four Russian frigates of Project 11356.
"No, the work will continue," Peskov said when asked whether the relevant agreement had been signed during the visit.
Putin and Modi have also discussed a number of issues of the international agenda.
"The sides affirmed 'equality, mutual respect and non-interference as universally acknowledged norms of international law as reflected in the United Nations Charter and the 1970 Declaration on principles of international law concerning friendly relations and co-operation among states in accordance with the UN Charter,'" the statement said.
The leaders focused on the situation in crisis-hit Afghanistan.
"The Sides declared their support to Afghan government's efforts towards the realization of an Afghan-led, and Afghan-owned national peace reconciliation process. Concerned with the unabated violence and severely undermined security situation in Afghanistan and its adverse effect on the region, the Sides resolved to work through the Moscow Format, SCO [Shanghai Cooperation Organization] Contact Group on Afghanistan, and all other recognized formats for an early resolution to the long-term conflict in Afghanistan, end to terrorist violence," the joint statement noted.
Putin and Modi agreed to boost the coordination of efforts at a number of multilateral platforms including the SCO, BRICS, United Nations and G20.
"We agreed to increase cooperation in multi-sided venues, in particular, in the UN, in BRICS, SCO, and the G20. We will closely coordinate our work to strengthen security and cooperation in Asia, jointly fight such modern challenges and threats as international terrorism, drug trafficking, cross-border crime," Putin said at a press conference.
Moscow and New Delhi also reaffirmed their commitment to further strengthening the global nuclear non-proliferation regime.
"The Sides underlined the importance of the full and effective implementation of the Joint Comprehensive Plan of Action (JCPOA) on the Iranian nuclear programme in order to support international peace and security, to strengthen non-proliferation regime and to develop normal economic cooperation with Iran. They called for all issues related to the Iranian nuclear programme to be resolved peacefully and through dialogue," the joint statement said.
Putin said that trade between Russia and India had increased by 20 percent in the first seven months of 2018, and continued to grow after surging 21 percent to over $9 billion last year.
"At one point, we set a task of increasing annual trade to $30 billion by 2025, and the volume of mutual investments to $15 billion. In this context, we noted with satisfaction that last year mutual trade grew by 21 percent, exceeding 9 billion. In the first seven months of this year, it was up another 20 percent [year-on-year]. If we move at such a pace, we will not only fulfill, but exceed [the set target], and we will reach our targets ahead of time and move on," Putin said following the Russian-Indian talks.
He also stressed that Russia showed strong trade and industrial potential and ability to cope with the most acute challenges, opening more opportunities for Indian partners in the market.
In turn, India invited Russian companies to participate in the development of industrial corridors in the country, according to the joint statement.
"The Sides emphasized that infrastructure development is an important national priority for both countries offering immense opportunities for cooperation. The Indian Side invited Russian companies to participate in the development of industrial corridors in India, including in areas of road and rail infrastructure, smart cities, construction of wagons and creation of a joint transportation logistics company," the statement reads.
At the same time, Russia and India said that they opposed trade protectionism in any form.
"The Sides stand for strengthening of open, inclusive, transparent, non-discriminatory and rules-based multilateral trade system and prevention of fragmentation of international trade relations and trade protectionism in all forms," the joint statement said.
Putin and Modi agreed to be working toward promoting national currencies in bilateral trade.
"The Sides reviewed the progress on the achievement of the goal to increase two-way investment to USD 30 billion by the year 2025 and noted with satisfaction that both countries were on the way to achieving this target ... The Sides expressed their support to promoting bilateral trade in national currencies," the statement reads.
During the talks, Putin and Modi also expressed their support for acceleration of negotiations on a free trade agreement between the Eurasian Economic Union (EAEU) and India, according to the joint statement.
"The Sides welcomed the start of consultations on the Free Trade Agreement between the Eurasian Economic Union and its member states, on one side, and the Republic of India - on the other, and supported the idea to expedite the negotiation process," the document read.
In addition, Russia and India intend to launch the Green Corridor project to simplify customs procedures to boost trade.
"The Sides supported the early launch of the Green Corridor project aimed at the simplification of customs operations in respect of goods being transported between India and Russia. They regarded this as an important step towards enhancing mutual trade. After the start of the project Customs administrations of both countries will be committed to its further expansion," the statement said.
India and Russia also welcomed in the document the memorandum of understanding signed between National Small Industries Corporation of India and the Russian Small and Medium Business Corporation.
Russia is also ready to consider cooperation with India in a number of energy projects, including Far East LNG and Arctic LNG 2, as well as projects on natural resources development in Russia's Siberia, Yamal and continental shelf, according to Putin.
"We welcome the interest of Indian energy companies in expanding their business in Russia. We are ready to consider the possibility of cooperation within the framework of such projects as Far East LNG, Arctic LNG 2, as well as other projects for development of natural resources of Siberia, Yamal and the continental shelf in the Russian Federation," Putin said.
The sides also agreed to further promote cooperation between Indian states and Russian regions. Russia also invited India to invest in the Russian Far East.
"The Sides agreed to actively promote joint projects in third countries in sectors such as railways, energy and others where there is a complementarity between them in terms of technology and resources," the statement added.
Russia and India have friendly relations sharing common approaches to dealing with a number of global political and economic issues. The countries are also cooperating in a number of multilateral formats including the SCO, BRICS and G20.
