Russia to issue five-yr visa, increase trade to $10bln by 2010

New Delhi, Dec 8 (UNI) Russia plans five-year business visas for Indian entrepreneurs even as the Russia-India Joint Study Group (JSG) is considering ways to raise the bilateral trade from 2.75 billion to 10 billion dollars by 2010.

This was stated here today by the visiting Russian Federation Deputy Chairman Alexander D Zhukov at an interactive session organised by FICCI.

''The recommendations would be shared with Russian and Indian businessmen for their feedback, following which serious efforts would be made to remove the stumbling blocks to enhance trade between the two countries,'' Mr Zhukov said.

We will discuss with Indian officials the issuance of a five-year visa to Indian businessmen, but we feel it should be linked to the re-admission issue, he said.

However, the issue of re-admission, which regulates the mechanism of repatriation, is holding up the signing of a formal agreement between the two governments, as Russia considers the signing of the readmission agreement as necessary before the visa regime is simplified.

Mr Zhukov said for the development of technology parks, Russia would rely on India's successful experience in the field as the Russian government proposes to set up such parks throughout the country.

He invited Indian entrepreneurs to participate in large numbers at the 11th International Economic Forum at St Pertersburg in July 2007, where the focus will be on the BRIC countries (Brazil, Russia, India and China), particularly India.

Mr Zhukov is leading a 54-member business and official delegation to India for the India-Russia Inter-governmental Commission (IRIGC) on Trade, Economic, S&T and Cultural Cooperation.

UNI SBA DKS RS1923