PM addresses plenary session of the Eastern Economic Forum (EEF)

September 4, 2021

Prime Minister, Narendra Modi, addressed the session of Eastern Economic Forum (EEF) on September 3, 2021.

Key Points

During the session, Prime Minister noted that, India-Russia energy partnership can bring stability in the global energy market. At the same time, International North-South Transport Corridor will bring both the countries closer.
The plenary session of the Eastern Economic Forum (EEF) was held in Vladivostok.

Background

EEF is an international meet, held annually in Vladivostok in order to encourage foreign investments in the resource-rich but underdeveloped Far East region of Russia. Russia has actively engaged India to invest in this region, following which India had announced a $1-billion line of credit for the Far East during EEF 2019.

India-Russia cooperation

Energy is one of the major pillars of India-Russia strategic partnership. Energy partnership between both the countries can help in bringing stability in the global energy market.
Both the countries have also been making a Chennai-Vladivostok maritime corridor. This connectivity project and International North-South (Transport) Corridor will bring both the countries physically closer.
India’s state-run Mazagon Docks Limited (India’s largest shipyards) will partner with Russian ship-building facility at Zvezda in order to build important commercial ships in the world.
India and Russia are also partners in space exploration through the Gaganyaan programme.
Both will also partner in opening the Northern Sea Route for international trade.

Eastern Economic Forum

EEF is an international forum organised each year in Vladivostok, Russia. It is held in a bid to encourage foreign investment in Russian Far East region. It was first held in September 2015, at Far Eastern Federal University in Vladivostok. This forum is sponsored by the organizing committee appointed by Roscongress.

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