Indian Prime minister will be visiting the Russian city of Vladivostok as the guest of honour at Eastern Economic Forum(EEF).The bilateral summit will also be held on the sidelines of the EEF.
During the bilateral summit,the two countries will not only consolidate the traditional areas of cooperation namely defence, nuclear, space and energy but will also add new pillars of cooperation.
Russian Far East will be part of that cooperation.Russian Far East comprises the eastern Russian territory between Lake Baikal in eastern Siberia and the Pacific Ocean.
The Indian trade and investment in the Russian far east region has been rising slowly in diamond cutting and polishing,coal mine development as well as pulp industries.
Strategically too,deeper involvement of Indian business in the Russian Far East works well for both countries.For Russia,it prevents China from taking advantage of the region.For India,the investments are akin to marking a territory in a vital region.
The Eastern Economic Forum was established by Russia in 2015.It is considered as the biggest international communication platform for cooperation between business leaders and senior government representatives from Russia,the Pacific Region and the ASEAN.