India, Russia explore transshipment hub in Bay of Bengal
Sarbananda Sonowal is representing India at the Eastern Economic Forum which is being held at the Russian port city of Vladivostok aiming to push Eastern Maritime Corridor between the two countries.
The Shipping Minister will also be speaking at the session on Eastern Maritime Corridor, while also meeting senior ministers of Russian Federation on possibilities to further strengthen the bilateral relation between the two countries, including exploring possibilities of the Northern Sea Route and establishing a Trans Shipment Hub in the Bay of Bengal.
The Corridor is aimed at reducing cargo transit times between our nations. The journey from Indian ports to the Russian Far East takes just 24 days, compared to 30 days through the port of Novorossiysk.
This corridor holds immense potential to unlock new opportunities for trade and cooperation for both India and Russia, officials said.
The Minister is scheduled to meet Alexey Chekunkov, Minister for the Development of the Russian Far East and Arctic; Vitaly Saveliev, Minister for Transport of Russia among others with an objective to maintain strong ties and foster strategic, trade and logistical cooperation across various sectors, officials informed.
Speaking on the occasion, the Minister said, “It is indeed a matter of great honour and responsibility that I was provided with the opportunity to lead our great country at the prestigious Eastern Economic Forum. Under the dynamic leadership of Prime Minister Narendra Modi the historic ties between India and Russia has reached a new height as we strengthen our trade and commerce.”
“In view of this renewed vigour in the Indo Russian relationship, we have been working together to develop an alternative trade route between historic
