(MENAFN- IANS) New Delhi, Dec 5 (IANS) The Roscongress Foundation and the Associated Chambers of Commerce & Industry of India (ASSOCHAM) on Friday formalised a cooperation agreement here to broaden and strengthen the economic partnership between Russia and India.

Under the MoU, the Roscongress Foundation and ASSOCHAM will jointly support the development of high-impact initiatives in areas such as exports in high-priority areas, investments, technology exchange, etc.

This strategic agreement forms a comprehensive framework to advance long-term, mutually beneficial cooperation across a wide spectrum of sectors, an ASSOCHAM statement said.

The partnership aims to stimulate economic interaction, drive new business opportunities, and enable deeper connectivity between Indian and Russian enterprises.

Recognising the growing importance of India–Russia economic relations, the two institutions will work together to enhance linkages between expert communities, business leaders, and policy stakeholders, creating stronger platforms for dialogue and collaboration, the statement said.

The two organisations will also collaborate in high-level engagements, including forums, conferences, exhibitions, and business delegations, to advance bilateral dialogue and facilitate greater industry participation.

This includes coordinated promotion of initiatives through official communication channels, ensuring wide visibility while upholding confidentiality norms agreed upon by both parties.

The agreement also constitutes a continuous exchange of relevant information, regular consultations, and structured coordination to evaluate ongoing activities and identify new avenues of cooperation.

India and Russia have agreed on an economic cooperation programme aimed at expanding trade till 2030, Prime Minister Narendra Modi said at a press conference along with Russian President Vladimir Putin.

"We are trying for an early conclusion of the FTA with the Eurasian Economic Union. India and Russia have agreed on an economic cooperation program to expand trade till 2030," PM Modi said after talks with President Putin.

Both countries are working towards ambitious targets set by their leaders of achieving $50 billion in mutual investments by 2025 and $100 billion in annual bilateral trade by 2030.

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