NEW DELHI, Feb 13 (KUNA) — India and Russia Wednesday announced establishing a joint task force to facilitate trade and investment ties between the two countries. “The joint task force set up by both the governments will ensure greater business takes place between the countries. It will create a positive investment climate in India as also the huge investment opportunities in infrastructure, metallurgy, real estate, pharmaceuticals and other sectors,” India’s Commerce and Industry Minister Kamal Nath said while addressing the second India-Russia Forum on Trade and Investment here today. The task force will be headed by the Trade Ministers of both countries.
On the occasion Kamal Nath and Russian Minister of Economic Development and Trade Elvira S Nabiullina, also signed a protocol agreement to resolve and cooperate in areas of mutual interest. “Both India and Russia have agreed to cooperate in traditional as well as new areas like energy, oil and gas, transport, pharma, steel, mining, health and tourism,” Nabiullina said. Both the Ministers also resolved to double bilateral trade to 10 billion usd by 2010 from the current 5 billion usd. It was also decided to form an India-Russia CEO Council with 10 top CEOs from each country.