Thursday (September 5): As a part of healthy economic diplomacy, Prime Minister Narendra Modi, who is on annual bilateral visit to Russia, has announced today a $1 billion line of credit for the development of the resource-rich Far East region of Russia.
While addressing the Plenary Session of the Fifth Eastern Economic Forum (EEF) in Vladivostok, Russia, PM said, “My govt has actively engaged East Asia as part of its ‘Act East’ policy. This will also give a new dimension to our economic diplomacy.” In order to boost India’s engagement with Russia’s Far East region, PM added a new dimension to India’s ‘Act East’ policy unveiling the ‘Act Far East’ policy.
Highlighting India’s historical ties with Far East he said, “India’s connection to Russia’s Far East go back a long way. India was the first country to open a Consulate in Vladivostok.” He further added, “Let us deepen the bond between India and Russia even further. India is proud of the achievements of the Indian diaspora. I am sure here in the Russian Far East too the Indian diaspora will make an active contribution towards the region’s progress.”
Russian Far East is the easternmost territory of Russia, between Lake Baikal in Eastern Siberia and the Pacific Ocean. It shares a land border with Mongolia, China and Korea and maritime border with the US and Japan.
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