PM Modi to attend Eastern Economic Forum at Vladivostok in Russia
Eastern Economic Forum: Bilateral relationship in the field of oil and gas exploration will be high on the agenda during the PM Modi's visit.
Prime Minister Narendra Modi will leave for Russia today to participate in three-day Eastern Economic Forum at Vladivostok. It is the fifth edition of Eastern Economic Forum (EEF). Apart from this summit, PM Modi will also participate in the 20th annual summit between Russia and India.
Foreign Secretary Vijay Gokhale released a statement that strengthening bilateral relations in the field of oil and gas exploration will be high on the agenda during the visit. He also said that India and Russia want to move beyond the conventional cooperation in defence and nuclear civil cooperation to the new areas of the economy.
Several other countries also participate in this three-day summit including China, South Korea, North Korea, Singapore and Indonesia. State Council Vice Premier Hu Chunhua of China will lead the Chinese delegation, the Minister of Economy and Finance Hong Nam-ki and the North Korean government will be represented by it's Vice Premier of Cabinet Ri Ryong-Nam, the South Korean delegation will be headed by Deputy Prime Minister for Economy.
Importance of EEF
India attaches a lot of importance to EEF as the government wants to focus on having business engagement with Russia and other Far Eastern countries. India has full support from Russia on the issue of Jammu & Kashmir and cross-border terrorism.
About Eastern Economic Forum
- It was established by the order of the President of the Russian Federation in the year 2015.
- Several key issues of the world economy, regional integration and development are highlighted in the event.
- EEF also discuss global challenges facing by Russia and other countries like climate change, global warming, digital currency etc.
- A number of business dialogues also take place in the forum with leading partner countries.
- It has emerged as an international platform for discussing the strategy for developing political, economic and cultural ties between Russia and the Asia Pacific.