Search Result for : Eurasian Economic Union

The Dollar Business Bureau The Joint DGFT of Mumbai has issued an official communique TRADE NOTICE NO.1/2018 today notifying that the Indian Government intends to enter into an Free trade Agreement, this year with the Eurasian Economic Union (EAEU) consisting of countries Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.  Through the notification the Department of Commerce intends to conduct a stakeholder’s consultation with various business houses of Mumbai, trading bodies, Ministry of Industries and the Govt of Maharashtra to understand the challenges/benefits that the FTA could generate. This is specific to the firms located in Maharashtra.  According to the notification the DGFT feels that some sectors could be affected due to the India-EAEU FTA. These being  Agricultural products (especially Fish products, coffee, oil cakes ...

The Dollar Business Bureau As India and Russia gear up for a summit on June 1 between Prime Minister Narendra Modi and Russian President Vladimir Putin, the two sides on Wednesday agreed to take forward joint projects in various sectors such as nuclear energy and collaborative projects in other countries. Both sides reviewed the progress on implementation of several key joint initiatives in economic areas at the India-Russia Inter-Governmental Commission on Trade, Economic and Cultural Cooperation (IRIGC-TEC) meeting, a forum for addressing key issues related to bilateral ties. During the meet, there was convergence of interests and views on a range of issues, according to a statement by the Ministry of External Affairs (MEA). The meeting was co-chaired by Indian External Affairs Minister Sushma Swaraj and Russia’s ...

The Dollar Business Bureau Prime Minister Narendra Modi and Russian President Vladimir Putin at a restricted meeting in Kremlin, Russia  A free trade zone between India and the Eurasian Economic Union (EAEU) should be up and running by 2020, a senior Russian official said even as Prime Minister Narendra Modi and Russia’s President Vadimir Putin were getting ready to discuss ways to renew trade ties. The Prime Minister, during his recently concluded two-day visit to Russia, emphasised the need to conclude the free trade agreement and stressed that the development will benefit the entire Central Asia region. “We are moving forward on the India-Eurasian Economic Union Free Trade Agreement. This will also benefit us in Central Asia,” Modi said at the ...

Source: PIB, Government of India The Minister of State for Commerce & Industry (Independent Charge), Nirmala Sitharaman.   India accepted the invitation extended by the Russian Government to participate as the Partner Country in the major Industrial Fair “INNOPROM 2016” to be held at Yekaterinburg, Russia in July 2016. This was conveyed by Nirmala Sitharaman, Minister of State (Independent Charge), Commerce & Industry, Government of India to her counter-part Denis Manturov, Minister of Industry and Trade of Russian Federation at a bilateral meeting held at St. Petersburg on July 19, 2015. India is likely to participate in the key handing over ceremony at Moscow later this year. Nirmala Sitharaman led a strong delegation to the annual St. Petersburg International and ...

The Dollar Business Bureau The Prime Minister, Shri Narendra Modi meeting the President, Shri Pranab Mukherjee on the occasion of his ceremonial departure for the State Visit to Sweden and Belarus, at Rashtrapati Bhavan, in New Delhi on May 31, 2015. Source: PIB. Government of India.   The expansion of Eurasian Economic Union (EEU) has the potential to open new trade avenues for India and other countries in the Southeast Asia. The new economic bloc came into force in January this year, after an agreement between Russia, Belarus, and Kazakhstan. Later, Armenia joined the forum, while Kyrgyzstan is in the process of becoming a member of this group. Strategic and trade analysts say that the new forum could be an effort ...