 "Sarbananda Sonowal")
India and Russia are seeking swift operationalisation of the geopolitically significant Chennai-Vladivostok Eastern Maritime Corridor (EMC), as Russia looks to send a business delegation to explore opportunities in the Indian port city.
During his visit to Russia, Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal extended an invitation for an Indo-Russian Workshop on the Eastern Maritime Corridor (EMC) in Vladivostok on Tuesday.
"Sonowal was addressing the session aimed at forging possibilities for early operationalisation of the EMC as an alternative trade route between the Russian port city of Vladivostok and the Indian port city of Chennai. The workshop is proposed to take place from 30 October to 1 November 2023 in Chennai, India," a statement from the shipping ministry said.
The corridor allows India to have a presence in the South China Sea through a trade route, which is primarily aimed at the speedy transportation of coking coal.
"The operationalisation of the Eastern Maritime Corridor (EMC) will usher in a new era of trade relationship between India and Russia," Sonowal said.
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"As our teams hedged their effort for early operationalisation of the EMC, the visit to Vladivostok, Vostochny, Nakhodka and Kozmino was particularly helpful. Taking this forward, I propose a workshop for all stakeholders at Chennai in India and extend our invitation to this workshop where we can meet, interact and discuss smooth and swift operationalisation of the EMC," he added.
An agreement was signed between the two countries for the trade route in 2019. In due course, more commodities like oil, liquefied natural gas (LNG), and fertilisers will be added to the list of commodities transported via the EMC, the ministry's statement read.
The corridor is estimated to bring down transportation time between Indian and Russian ports of the Far-East Region by up to 40 per cent (24 days from the current 40 days).
Sonowal is expected to meet Vitaly Saveliev, Minister for Transport of Russia, on Wednesday.
