Union Commerce and Industry Minister Anand Sharma, who met Russian Minister of Economic Development Alexey Valentinovich Ulyukaev on the sidelines of ASEAN Ministerial meeting here on Wednesday, raised the issue of temporary suspension of Indian rice export to Russia and sought market access for Indian bovine meat.
Sharma, who congratulated Ulyukaev on assuming charge of Minister of Economic Development of Russia, reaffirmed the special relationship India enjoys with Russia which has been time tested, stable and strong over the decades.
"We now have to take this economic cooperation forward to achieve the target of USD 20 billion bilateral trade," said Sharma.
The Russian Minister of Economic Development raised the issue of protection of Russian investment in India and asked for early conclusion of Bilateral Investment Protection Agreement (BIPA).
Sharma requested Russia for early realization of the proposed trilateral Customs Union involving Russia, India and Kazakhstan.
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Talking about specific sectors, he referred to the Memorandum of Understanding on Pharmaceuticals which was signed in 2010 and remains to be implemented. The Indian Commerce and Industry Minister underlined the aspects of quality and cost effectiveness of Indian generic medicines which will greatly benefit Russia.
In addition to this, Sharma called for resolution of sanitary and phytosanitary (SPS) measures concerning standards of Indian agriculture exports to Russia.
With the strict regulatory system which has been put in place in India, Sharma asked Ulyukaev to review the rice export suspension. He looked forward to the meeting of Trade and Investment Forum to be held in Russia next month.
