PM’s statement at the Joint Press Interaction with the Russian President

Following is the text of the Prime Minister Dr. Manmohan Singh’s statement at the Joint Press Interaction with President Medvedev in Moscow :

“I would like to begin by conveying to the Government and people of Russia the deepest condolences on behalf of the Government and people of India on the most tragic incident which took place in Perm and to join them in their mourning today. Our thoughts are with the friends and families of the bereaved. I thank His Excellency President Medvedev and the people of Russia for the warm hospitality extended to me. This is my second visit to Russia in six months and I am delighted to be back again. Relations between India and Russia are characterised by deep mutual trust and confidence. They are based on shared interests and common perceptions on global issues. Russia is a major global power and a factor of peace and stability in the international system. India accords the highest priority to its relations with Russia. This is a relationship that stands on its own footing and is not influenced by our relations with any other country. I am most satisfied with our discussions today, and my discussions with the President at the dinner he kindly hosted for me last night.

I conveyed to President Medvedev the special importance we attach to strengthening the economic dimension of our ties. We expect the India-Russia CEO’s Council to play a much bigger role in realising this objective. I will be meeting the members of the Council later today together with Prime Minister Putin. We have decided to set a trade target of 20 billion US dollars by 2015. We have identified the areas of energy, Information Technology and Communications, and pharmaceuticals as the new thrust areas for cooperation.

We welcome greater Russian participation in the expansion of our nuclear energy programme. The successful conclusion of negotiations on an Intergovernmental Agreement on Cooperation in the Peaceful Uses of Atomic Energy is a major step forward in strengthening our existing cooperation in this field. I reiterated to President Medvedev our keen interest to similarly expand our cooperation in the hydrocarbon sector. Given India’s energy needs, and the world class capabilities of Indian companies in the oil and gas sector, this is an area of vast untapped potential. I was most encouraged by the President’s positive response to taking further concrete steps in this direction. The Agreements that we have signed in the field of defence cooperation, in particular on the Programme for Military and Technical Cooperation for the period 2011 to 2020, will provide the basis for an intensive and broad based cooperation in this vital area.

We are grateful for the support given by the Government of Russia for the holding of the Year of India in Russia. We would like to build upon this by focussing on greater exchanges between our youth, institutions of higher learning, parliamentarians, business leaders, media, scientists and researchers. We also discussed regional issues, including the situation in Afghanistan. Both India and Russia have an interest in a stable, prosperous and moderate Afghanistan, and we have agreed to regularly consult each other on this important issue.

We have also agreed to enhance our cooperation to meet the grave challenges of terrorism and religious extremism that emanate from our region and threaten both our societies. We reviewed our collaboration in the United Nations and multilateral forums like the G-20. India and Russia can play a significant role in ensuring that the process of global economic recovery is sustained, balanced and inclusive. We have agreed to work towards a successful and comprehensive outcome at the climate change Conference in Copenhagen.

I have invited President Medvedev for the next Annual Summit in Delhi in 2010. We look forward to the visit of Prime Minister Putin next year. These high level exchanges are a defining characteristic of our relations, and reflect the strong political commitment on both sides to continue to strengthen our Strategic Partnership.”

Following is the text of the Prime Minister, Dr. Manmohan Singh's speech at India-Russia CEOs Council in Russia:

I am delighted to be here with Prime Minister Putin to meet such a distinguished group of business leaders. Prime Minister Putin has played a magnificent role in the development of multifaceted cooperation between our two countries. We look forward to his continued guidance and involvement in the future evolution of our relations.

India and Russia are strategic partners and we have a broad-ranging relationship. However, our bilateral trade and investment cooperation has not kept pace with our close political ties. This is despite the fact that there are strong complementarities between our two trillion-dollar-plus economies. It is in recognition of this fact that both Governments have taken several initiatives to promote establishment of business-to-business linkages. These include the establishment of the India-Russia Forum on Trade and Investment in 2007 and the CEOs' Council in 2008. The India-Russia Forum has already met thrice and acquired its own identity as a platform for enabling interaction between the corporate sectors of the two countries. We would like the CEOs' Council, which is a more compact group of business leaders, to provide corporate leadership for utilizing the economic opportunities between our two countries.

Russia is richly endowed with natural resources including hydrocarbons, and a work force capable of generating the most advanced technologies in areas as varied as defence and biotechnology. India is an economy with a huge market, a young and expanding work force, and in need of massive investments, particularly in infrastructure. Full Text