New Delhi, Feb 26 (KNN)  India and Russia have agreed to examine the possibility of opening trade through a free trade agreement known as Comprehensive Economic Cooperation Agreement (CECA) in official parlance.
 
“India and Russia have agreed to a proposal for setting up a Joint Study Group for studying the scope of CECA (Comprehensive Economic Cooperation Agreement) with member-countries of the Customs Union namely Russian Federation, Kazakhstan and Belarus,” said an official notification.

This was agreed during a meeting between the Union Minister of Commerce and Industry Anand Sharma and Deputy Prime Minister, Russia, Dmitry Rogozin, here today.

Keeping in view the support of the Russian side on the idea of setting up a JSG for CECA between India and the CU, the Russian side was requested to steer the process for CECA within the Eurasian Economic Commission.

The Russian representation also conveyed the resolution of issues pertaining to market access of egg powder. They informed that Indian entities have started getting the nod for export of egg powder for the Custom Union Markets.

During the India-Russia Working Group on Trade and Economic Cooperation (IRWGTEC) held from September-10 to 11, 2013, the Russian side had stated that market access can be given if the Indian products meet the requirements and norms of the Custom Union.

The Indian side responded that the products match the international standards and the Department is ready to receive a delegation of food and veterinary authorities to inspect the facilities.

The Russian team also assured to expeditiously resolve the issue of recognition of Government approved Indian labs for enabling export of bovine meat from India.   (KNN/ES)