Mumbai, Apr 22 (KNN) Government of Russia has sought support from Indian Industry to promote its Far East region by developing bilateral cooperation in the field of Oil, Minerals, Pharmaceuticals, Paper industry and Logistics.

The Consul General of the Russian Federation, at an interactive meeting organized by World Trade Center (WTC) Mumbai and All India Association of Industries (AIAI) here, said “We look forward to the support of Indian businesses to develop diamond, gold, silver, copper and coal mines.”

‘Far Eastern Federal District of Russia' is the largest of the eight federal districts of Russia. It lies within the easternmost part of Asia. Vladivostok is the administrative centre of this economically developed District

Director-Cooperation Division, Far East Investment and Export Agency Alexandra Chernova, said, "India is the fastest growing economy and offers great potential for Russian companies to invest.”

The Russian Far East region is the fastest growing economic zone in Russia. Later this year, Yury Trutnev, Deputy Prime Minister of Russia is visiting India to explore cooperation among Indian business to develop this region, he added.

She said “There is a tremendous scope to develop joint mining projects on Diamond, Gold, Silver, Coke as well as develop infrastructure and logistics projects."

The delegation accompanying the Deputy Prime Minister of Russia will hold series of meetings with potentials Indian partners and will have special meetings with film producers to promote film shooting and post production work, she concluded.

Chernova further requested World Trade Center Mumbai and All India Association of Industries to help in organizing meetings in Mumbai.

Vice Chairman of World Trade Center Mumbai and President of AIAI, Vijay Kalantri, said, "The bilateral relations between India and Russia have been a key pillar of India's foreign policy. In 2017-18, the bilateral trade was USD 10.7 billion.”

There is a huge potential to increase the trade to over USD 50 billion in the next decade. Mining, Pharmaceuticals and bollywood film production are potential drivers for enhancing economic cooperation between India and Russia, he added.

WTC Mumbai and AIAI offered its full cooperation for the success of \ Deputy Prime Minister of Russia's visit to Mumbai.