Russia to introduce five-year business visas for Indian entreprenes

New Delhi, Jan 23 (UNI) Russia is considering introducing five-year business visas for Indian entrepreneurs and raise bilateral trade from 2.75 billion US Dollars to 10 billion by 2010.

Russia is also creating four economic zones in Moscow, St.

Petersburg and other cities and planning to open technology parks, and plans to invite Indian investors to participate in the proposed free economic zones.

Officials at the Russian embassy here said today that Indian entrepreneurs would be invited to participate in the 11th International Economic Forum at St Petersburg in July where focus would be on BRIC (Brazil, Russia, China India) countries, with a separate session on India.

Russian President Vladimir Putin, who arrives here on January 25 to be the Chief Guest at the Republic Day function, will also hold talks with Prime Minister Manmohan Singh on a wide range of topics including Nuclear and Defence cooperation and trade and economy.

The two countries will also sign about ten agreements including one on cultural cooperation for 2007-2009 and a Protocol on celebrating the year of India in Russia and vice versa.

''The two countries have graduated from a mere buyer-seller relationship to joint production of Defence equipment,'' a senior official of the External Affairs Ministry said here.

The Indo-US nuclear cooperation and more reactors for Kudunkulum Power plant will also figure during the discussions.

''In principle, there is an understanding on three more reactors for Kudunkulum,'' the official said.

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