India and Russia will set up a joint task force (JTF) to boost bilateral trade
to a level of $10 billion by 2010 from the present $2 billion, commerce secretary
G K Pillai told a meeting of joint study group (JSG) on economic cooperation.
The JTF would
be set up by the end of this year when prime minister Manmohan Singh visits Moscow
for summit talks with President Vladimir Putin, Pillai said.
JSG was set up to identify the bottlenecks in tapping the potential of bilateral
economic cooperation and trade.
proposed task force would monitor implementations of recommendations, covering
goods, services and investments, as given in a 150-page-report prepared by the
JSG, Pillai said.
would be a time-bound mechanism with the final goal of signing comprehensive economic
cooperation agreement (CECA) and free trade agreement (FTA) with Russia, once
it joins WTO, Pillai siad.
the Indian side, JTF would be headed by the commerce secretary, Pillai said, adding
that the Russia would be represented by a team led by Mikhail Dmitriyev, Centre
of Strategic Research (CSR), which is a Kremlin think-tank linked to the Russian
economy and trade ministry.