NEW DELHI, February 7 (RIA Novosti) - India hopes the signing of a bilateral protocol on Russia's accession to the body governing global trade will allow it to boost exports to its long-term trade partner, a statement for the Indian government said.
Indian Commerce and Industry Minister Kamal Nath and Russian Economic Development and Trade Minister German Gref signed the bilateral protocol on Russia's accession to the World Trade organization on Monday. It is based on a package of agreements designed to foster mutual trade and business contacts, which India called a foundation for new cooperation.
The government said it expected the documents to remove obstacles to increasing Indian exports to Russia, and Gref said that Russia, which is aiming to join the WTO by the end of the year, planned to increase trade from the current $2 billion to $10 billion in 2010.
Last year, Russian civilian exports to India totaled $1.3 billion, but military contracts, which have been aggressively pursued since the early years of the Cold War, have been far more impressive. According to a Russian military official, the two countries are now working on military contracts worth about $10 billion.
India's civilian exports to Russia amounted to $600 million in 2005, and New Delhi wants to improve the trade balance in its favor.
For example, New Delhi has called for an inter-governmental agreement on raising Russian quotas on Indian-produced tobacco, which would cover both Indian cigarette purchases and possible joint ventures to produce cigarettes using Indian tobacco in Russia.
One of the chief Indian concerns hampering the development of cooperation with Russia is piracy, a problem that has put the brakes on Russia's WTO talks with the United States. Counterfeit products have flooded the Russian market, damaging the positions of Darjiling, India's world-known tea producer, on the consumer market.
Gref assured his Indian partners at the final news conference Monday that the Russian authorities had stepped up measures against counterfeiters.
India has also called for a deal between the MMTC, the country's largest precious metals and gems importer, and the Russian diamond monopoly Alrosa to import rough diamonds from Russia at a lower price. The Indian government said that it had asked Russia to make a decision to include the MMTC on the list of permanent bidders at auctions and tenders held by Alrosa.
Indian officials also expressed willingness to simplify visa regulations with Russia at talks with Gref, who rounded off his visit to India Tuesday.
Russia has yet to sign WTO protocols with the U.S. and Colombia.
