Jaishankar seeks balanced, long-term ties with Russia in changing world

Sandeep Dikshit

New Delhi, November 8

India and Russia are engaging each other in an increasingly multi-polar and re-balanced world, said External Affairs Minister S Jaishankar while seeking economic ties that are balanced.

“Our economic cooperation is moving towards long-term stability but it needs to be balanced if it is to be sustainable. These issues are at the core of our talks today,” said Jaishankar in Moscow in his meeting with Russian Deputy Prime Minister Denis Manturov who is in-charge of industry and trade.

If trade between India and Russia continues at the current pace, it is likely to reach the target set for five years in future within the current year itself. However, as is the case with China, bilateral trade with Russia has adverse balance of trade with India.    

“We are on track to achieve a target of $30 billion in terms of the annual trade turnover. And that is partly due to the preparation and discussion which we have had between us in the last few years,” noted the minister while expressing confidence that both sides will be able to address the trade deficit and market access issues.

Pointing out that his delegation consists of senior representatives of seven different ministries for substantive discussion on various issues and to chart the future course of action, he said, “I hope you will take that as proof of our seriousness”. 

Before his fifth meeting of the year with Russian Foreign Minister Sergei Lavrov, Jaishankar said the objective of the interaction should be to fashion a contemporary, balanced, mutually beneficial, sustainable and long-term engagement.

“Especially as our economic cooperation increases, this is a significant imperative. We would be discussing how our shared goals are best achieved,” he noted.

On Lavrov pointing out at the strong and continuing contacts between the two governments at various levels, Jaishankar said the meetings between PM Modi and President Putin, Defence Ministers Rajnath Singh and Sergei Shoigu and NSAs Ajit Doval and Nikolai Patroshev show that such high level interactions are “very much in the spirit of our relationship”.

The meeting assessed the state of bilateral cooperation and exchanged perspectives on the international situation. Talks also covered the covid pandemic, financial pressures and trade difficulties, the consequences of the Ukraine conflict and terrorism and climate change.