Moscow Government signs MoU with AIAI & WTC to promote bilateral trade

All India Association of Industries (AIAI) signed a Memorandum of Understanding (MoU) with the Board of Business Council for Co-operation with India (BCCI), Government of Moscow. The MoU was signed between Mr. Vijay Kalantri, President – AIAI and also on behalf of World Trade Centre Mumbai and Russia India Trade House Mumbai (RITHM) and Mr. Sergey E . Cheremin, Minister and Head of Dept. of Foreign Economic and International Ties, Government of Moscow in presence of H. E. Mr. Alexander Kadakin, Ambassador (E & P) of Russian Federation.

The Russia India Trade House Mumbai (RITHM) is established by the All India Association of Industries (AIAI), World Trade Centre Mumbai and the Consulate General of the Russian Federation in Mumbai with the support of the Embassy of Russian Federation in New Delhi to facilitate Russian Companies in India and in the Russian Federation and Indian companies proposing to promote trade between both the countries in areas of import/exports, technology transfers, investment and joint ventures.

The highlights of the MoU are:

a) Exchange of trade and investment related information in order to promote international trade and investments, between the concerned countries.

b) Exchange of business proposals for joint ventures, collaborations, technology transfers.

c) Promote the exchange of trade missions between India and Russia and set up business contacts.

d) Wherever possible and appropriate, to exchange information and assist each other in the organization of/or participation in international fairs, exhibitions and trade promotion events to be held in their respective countries and assist and encourage their members in participating in such events.

Mr. Sergey E . Cheremin, Minister and Head of Dept. of Foreign Economic and International Ties, Government of Moscow said signing of the MoU will help in promoting economic co-operation between Russia India Trade House and the Government of Moscow as Moscow and Mumbai both are the economic capitals of their respective countries .

Mr. Kalantri, President, All India Association of Industries (AIAI) remarked that the signing of MoU will enhance co-operation between India and Russia with the support of the Government of Moscow and Russia India Trade House Mumbai (RITHM).

October 27, 2012