By Burc Eruygur
ISTANBUL (AA) - Russia said Tuesday it is “optimistic” about the prospects of concluding a preferential trade deal with India, according to Deputy Prime Minister Alexey Overchuk.
Speaking at a business forum in Moscow, Overchuk said negotiations with New Delhi are ongoing and that the first stage of the process has already been completed.
“We are quite optimistic about it. If the relevant agreement is signed with India, Russian businesses will have access to a market of 2.2 billion people,” said.
Overchuk recalled that Russia has already concluded similar agreements with countries of the Commonwealth of Independent States, the Eurasian Economic Union, Vietnam, Serbia, and Iran.
He described such agreements as a “very important tool,” adding that Russia needs to learn how to work more effectively with them.
“They allow us to secure better access to new markets and obtain a reverse flow of imports, which benefits our consumers and improves competition in the domestic market,” he added.
Russian President Vladimir Putin said in December during a visit to the South Asian nation that Moscow and New Delhi are working to boost bilateral trade to $100 billion, noting that the trade turnover between the two countries has reached record levels.