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MEA advises exporters to adhere to SPS measures
The Ministry of External Affairs on Wednesday cautioned Indian exporters not to compromise on prescribed Sanitary and Phytosanitary (SPS) measures to avoid rejections of their export consignments of food and health related products to Russia even in the wake of sanctions, imposed against it by USA and European Union.
Speaking at a Conference on "Druzhba-Dosti: India's Trade Opportunities with Russia" under the aegis of industry body, PHD Chamber of Commerce and Industry here today, Joint Secretary (ERS), Ministry of External Affairs Shambhu S Kumaran reminded the exporters that in the recent past a few of their export consignments away to Russia relating to food and health products were outright rejected by Russian authorities, noticing dilution of SPS standards.

"I may point out that SPS measures are not waived off even when sanctions are imposed on any of the economies of the world. Therefore, Indian exporters are well advised to focus on quality, quality, quality rather than looking for excuses to take advantages of sanctions against Russia in its exports so that they are not denied market access for their health and food products in market such as Russia", said Kumaran in a statement.

According to him, Interaction, Information and Intermediation are the three key instruments to enhance bilateral economic relations between India and Russia. Interaction should be pro-active and positive and look at the long term ties between the two. Development of a good ecosystem to enhance Intermediation between the two nations will also carry their existing bilateral relations to the next level.

Speaking on the Occasion, Deputy Trade Representative Embassy of Russian Federation in India Evgeniy A Korshunov disclosed that Russian Fund was in offing to facilitate release of ceaseless Russian investments and its technologies into India in its core sector.

"A meeting to this effect is scheduled for Thursday (23.04.2015) between the relevant authorities of Russia and their counterparts in the Department of Industrial Policy and Promotion (DIPP)", he said without disclosing the details of the proposed fund.

He, however, added that the setting up of the suggested fund would lead to acceleration of the two way trade between India and Russia which is much below the potential of the two countries despite these have signed the strategic partnership agreements way back in 2000.

On the occasion a paper was released on "Druzhba-Dosti: India's Trade Opportunities with Russia", according to which the bilateral trade between India and Russia could touch US$10 billiion by 2017 before scaling up at respective levels of US$20 billion and US$ 30 billion in 2022 and 2025 provided the ongoing bottlenecks in their trade basket are suitable addressed.

The Vice President of PHD Chamber Gopal S Giwarajka in his welcome remarks identified oil and gas, defence, agriculture, railways and infrastructure among other areas for joint corporation between the two countries.

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