Carrying forward the economic and commercial engagement in their strategic partnership, India and Russia on Thursday agreed to accord high priority to charting out policies to encourage the private sectors in the two nations.
To this end, both sides have decided to devise a long-term strategic approach taking into account their mutually complementary strengths, changes anticipated in the nature of bilateral economic ties and the emerging trends at the global level, a joint statement issued at the end of the three-day visit to Russia by Prime Minister Atal Bihari Vajpayee said.
Prime Minister Atal Bihari Vajpayee and external affairs minister Yashwant Sinha at a meeting with Indian community, in Moscow on Thursday
It said there has been growing interest in trading in new items such as engineering goods, automobile and components, plastic products, chemicals, it and telecom goods. They agreed to hold a joint meeting of the concerned statutory bodies of both countries next year for discussing and harmonising national standardisation and certification regulations relevant to trade and investment and removing technical trade barriers.