New Delhi, Sept 11 (KNN) The Union Minister of Ports, Shipping & Waterways and Ayush, Sarbananda Sonowal is representing India at the Eastern Economic Forum which is being held at the Russian port city of Vladivostok.

He is scheduled to meet Alexey Chekunkov, Minister for the Development of the Russian Far East and Arctic; Vitaly Saveliev, Minister for Transport of Russia among others.

The aim is to maintain strong ties and foster strategic, trade and logistical cooperation across various sectors.

Speaking on the occasion, the Minister said, “In view of the renewed vigour in the Indo Russian relationship, we have been working together to develop an alternative trade route between historic port cities of Vladivostok in Russia and Chennai in India.”

“I believe during my visit and meetings with the leadership of Russia, we will be able to make progress in this important venture apart from fostering strategic, trade and logistical cooperation between the two countries,” he added.

The Minister will be addressing the India Russia Business Dialogue at the Eastern Economic Forum where he will be highlighting the pivotal role of trade, commerce and business in fostering stability and sustainability within the special and privileged strategic partnership between India and Russia.

India’s Shipping Minister will also be speaking at the session on Eastern Maritime Corridor, while also meeting senior ministers of Russian Federation on possibilities to further strengthen the bilateral relation between the two countries, including exploring possibilities of the Northern Sea Route and establishing a Trans Shipment Hub in the Bay of Bengal.

The Eastern Maritime Corridor is aimed at reducing cargo transit times between our nations. The journey from Indian ports to the Russian Far East takes just 24 days, compared to 30 days through the port of Novorossiysk. This corridor holds immense potential to unlock new opportunities for trade and cooperation for both India and Russia.

The 8th Eastern Economic Forum 2023 is taking place on 10–13 September 2023 in Vladivostok on the Far Eastern Federal University (FEFU) campus.  (KNN Bureau)