India, Russia sign seven agreements

New Delhi, Mar 17 (UNI) India and Russia today signed seven documents on cooperation including space technology and for boosting trade and economic relations.

These are : --Agreement between the Indian Space Research Organisation (ISRO) and the Federal Space Agency (ROSCOSMOS) for launching of Russian navigation satellites, GLONASS-M, by a variant of the Indian Geo-Synchronous Satellite Launch Vehicle (GSLV). This agreement would facilitate launching of GLONASS-M type of satellites of Russia using the Indian GSLV.

--Agreement between ISRO and ROSCOSMOS on joint development of GLONASS navigation satellites, GLONASS-K.

--MOU on cooperation between Indian Oil Corporation and Joint Stock Company Stroytransgaz of the Russian Federation.

This MOU is a declaration on intent for pursuing petro-infrastructure projects (design and construction of pipelines, gas and oil storage facilities etc.) worldwide jointly through a consortium.

--Agreement between Vneshtorg Bank of Russian Federation and the EXIM Bank of India on opening of a new credit line.

--Agreement on cooperation between the ICICI Bank and the Vnesheconom Bank of the Russian Federation.

--Agreement on cooperation between the Confederation of Indian Industries (CII) and the Russian Union of Industries and Enterprises (RUIE).

--Agreement between the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Indo-Russian Business Council set up by the Russian Federation Chamber of Commerce and Industry (RFCCI) and the Expert Magazine of Russia.

During his meetings with the President, Prime Minister and other Indian government representatives, Mr Fradkov exchanged views on the excellent state of current bilateral relations.

It was agreed that the strategic partnership between the two countries serves the long-term national interests of the two countries and would further consolidate their multifaceted cooperation.

UNI RB SHR KP2108