Putin invites PM Modi to visit Russia for 20th Annual Bilateral Summit

Speed Post News Network

New Delhi : Prime Minister of India Narendra Modi and President of the Russian Federation Vladimir V Putin met for the 19th edition of the Annual Bilateral Summit in New Delhi on October 4-5, 2018. India and Russia evaluated the contemporary relevance and significance of the informal summit in Sochi on May 21, 2018, which was a unique meeting in international diplomacy reflecting the deep trust and confidence between Prime Minister Modi and President Putin, underlining the desire of both countries to maintain regular contacts and hold frequent consultations on issues of mutual interest, and further enhanced mutual coordination and convergence of views on all major issues.

The Sochi Summit manifested the role of interaction and cooperation between India and Russia in building a multi-polar world order. The two sides agreed to continue the practice of such informal meetings and to maintain strategic communication at all levels on a regular basis. They also reaffirmed their commitment to the Special and Privileged Strategic Partnership between India and Russia. They declared that this relationship is an important factor for global peace and stability and appreciated each other’s respective roles as major powers with common responsibilities for maintaining global peace and stability, according to a PIB release.

The two 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. They welcomed the holding of the India-Russia Business Summit on the margins of the 19th Annual Summit on October 4-5, 2018 in New-Delhi with the participation of large business delegations from both sides, representing important areas of bilateral cooperation. They reviewed progress in the implementation of Priority Investment Projects in the spheres of mining, metallurgy, power, oil & gas, railways, pharmaceuticals, Information Technology, chemicals, infrastructure, automobile, aviation, space, ship building and manufacturing of different equipment.

They called for the development of the International North-South Transport Corridor (INSTC) through intensified efforts by finalising pending issues related to Customs authorities, development of road and rail infrastructure and financial facilitation through bilateral discussions as well as discussions with other partner countries at the earliest. They 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.

The two sides noted that Military and Military-Technical cooperation between the two countries is an important pillar of their strategic partnership. They welcomed the forthcoming meeting of the Indian-Russian Inter-governmental Commission on Military-Technical cooperation to be held in December 2018. They Sides welcomed the conclusion of the contract for the supply of the S-400 Long Range Surface to Air Missile System to India. Both sides agreed that their relationship is mature and confident, covering all areas and is marked by deep trust, mutual respect and close understanding of each other’s position.

The two sides called upon all states to work towards the lessening of global tensions and promoting the ideals of tolerance, cooperation, transparency and openness in inter-state relations. They stressed that the primary challenge in large parts of the world remains ensuring rapid and environmentally sustainable economic development, removal of poverty, reducing inequality among and within states, and providing basic health care.They noted with satisfaction the intensification of contacts between the two countries in all spheres – more than 50 visits at ministerial level, which have injected new vigour into their relationship.

Subsequent to the successful implementation of the Protocol on Foreign Office Consultations for the period 2017-18, the two sides agreed to extend the period of Consultations for five more years (2019-2023) and signed a Protocol to this effect. Russia welcomed the appointment of Consuls General of India in Ekaterinburg and Astrakhan, which would further facilitate closer interaction amongst people and regions of both sides.

President of the Russian Federation Vladimir Putin thanked PM Modi for the hospitality extended and invited him to visit Russia for the 20th Annual Summit in 2019. PM Modi accepted the invitation with great pleasure.