Narendra Modi arrives in Russia to attend Eastern Economic Forum: Here's why the event in Vladivostok matters to India

On Wednesday, Prime Minister Narendra Modi arrived in Russia on a two-day visit during which he will hold summit talks with President Vladimir Putin and attend the Eastern Economic Forum. His visit to the Russian Far East Region is the first by an Indian prime minister.

Modi will participate in the 2019 Eastern Economic Forum (EEF) as the chief guest. Russia and India are expected to sign around 15 documents, including some in the military-technical sectors, within the framework of the 20th Russian-Indian summit that will take place on the sidelines of the EEF, Russia’s State-run news agency, TASS, reported.

India and Russia are expected to seal a military logistics support agreement, the Agreement on Reciprocal Logistics Support (ARLS), official sources told The Hindu . The pact will help both countries access each other’s’ military facilities for exchange of fuel and provisions on mutual agreement, simplifying logistical support and increasing operational turnaround.

In an interview with TASS earlier, Modi had expressed confidence in India-Russia relations, saying, “I am confident that this visit will give a new vector, new energy and a new impetus to the relations between our countries.”

“We don’t want to be limited just to relations between the customer and the seller of military technologies. We are sure about the model of transferring technologies. I have said several times about this and we have even started moving in this direction,” Modi said.

The Russian-Indian partnership has gone beyond the framework of military and technical cooperation, Modi said.

“Today, provided that technologies are transferred, the production of military equipment can be cheap in India. And we will be able to supply these weapons to third countries at very low prices. India and Russia need to take advantage of this opportunity,” he noted.

He also spoke about India’s manned space mission, the Gaganyaan project, and said that Russia will help train the country’s astronauts.

Talking about the EEF, the prime minister said, “This forum is not confined to a mere exchange of points of view. We have been gearing up for this forum for six months,” Modi said.

He also took note that a large delegation from Russia’s Far East visited India and chief ministers from India, ministers, businessmen visited the Far East and saw it with their own eyes.

The prime minister also said he is ready to make efforts to ensure that the EEF will help boost and expand economic relations between India and Russia. “That is why I think that the Eastern Forum is a very important event,” he said.

What is the Eastern Economic Forum?

The Eastern Economic Forum was established by  Decree of the President of the Russian Federation Vladimir Putin in 2015 . In accordance with the decree, the Eastern Economic Forum takes place each year in Vladivostok. The three-day Eastern Economic Forum (EEF) to be held from 4 to 6 September will see over 70 business events focussing on discussion of key issues in the world economy, regional integration, and the development of new industrial and technological sectors, as well as of the global challenges facing Russia and other nations.

Events at the forum traditionally take place in the form of panel sessions, roundtables, televised debates, business breakfasts, and business dialogues devoted to Russia’s relationships with various countries.

The forum’s business programme includes a number of business dialogues with leading partner countries in the Asia-Pacific region, and with ASEAN (Association of Southeast Asian Nations), a key integration organization of dynamically developing nations in Southeast Asia.

What is the ‘Far East’?

The Far East is the easternmost part of Russia. The macro-region borders two oceans, the Pacific and the Arctic, and five countries (China, Japan, Mongolia, the United States and North Korea).

In 2018, the forum’s central event was the plenary with the participation of the President of the Russian Federation Vladimir Putin, President of the People’s Republic of China Xi Jinping, President of Mongolia Khaltmaagiin Battulga, Prime Minister of Japan Shinzo Abe, and Prime Minister of the Republic of Korea Lee Nak-yon.

The Far Eastern Federal District covers more than a third of Russia’s territory.

The Far East is rich in natural resources like diamonds, stannary, borax materials, 50 gold, tungsten, and fish and seafood. Around a third of all coal reserves and hydro-engineering resources of the country are found in this region. Forests of the region comprise around 30 percent of the total forest area of Russia.

According to The Times of India, this mineral-rich region provides ample opportunities for India and could also provide Russia with labour in sparsely-populated regions. By investing in the Far East, Indian companies are to get access to a market where they do not have to compete with western firms.

With inputs from PTI