June 1st, 2017 a business breakfeast “EAEU – India: Towards a Strategic Partnership” was held as part of the SPIEF 2017. The event was attended by Jurij Kofner, director, Center for Eurasian Studies.
Economic ties between Eurasian Economic Union (EAEU) member states and the Republic of India have a long history and solid foundations. The strategic partnership that exists between the two sides is enabling comprehensive trade relations to be developed. This event represents an opportunity for a direct dialogue, through which current issues in and prospects for economic collaboration can be examined, together with steps to achieve optimal conditions for further development, particularly against a background of trade liberalization that is opening up new business opportunities. Consolidated, practical proposals for increasing economic integration on the basis of predictable and long-term regulations can also be formulated. Suggested topics for discussion in this context include trade regulation, standardization of administrative procedures, removal of trade barriers, support for trade and investment flows, and cooperation in technology and manufacturing. Business enterprise and its practical and ever-increasing demand for the development of an effective market which functions according to clear rules form the basic foundation for the creation of a high-quality business environment.
There are important factors about collaboration between EAEU and India: rate structure related to the agricultural products, import, export, and phytosanitary measures”.
Free trade could become a very significant driver for Indian economic development”.
Creating a free trade area is a highly topical subject. Lifting barriers, relaxing conditions for market entry and opening up certain markets will improve the cooperation and trade turnover between Russia and India”.
We must strive to find something new in Indo-Eurasian relations that would shape the image of tomorrow. There are at least two such things: the infrastructure and digital transformation”.
On both sides, import and export should be easy so it is important to build the corridors that will lead not only to trade profit increase but also to transport cost decrease”.
For Russian exports, India is a priority market with a huge and yet untapped potential”.