India's Foreign Minister announces resumption of trade and economic relations with Ukraine
Photo: Indian Foreign Minister Subrahmanyam Jaishankar (Getty Images)
Ukraine and India will focus on restoring joint trade and economic relations, which have recently declined, according to Indian Foreign Minister Subrahmanyam Jaishankar.
According to him, during the meeting with Ukrainian Foreign Minister Dmytro Kuleba, they discussed bilateral relations, in particular, trade, economic issues, defense, pharmaceuticals, agriculture, and education.
"There were a whole lot of issues...The leaders also tasked the Intergovernmental Commission, of which Minister Kuleba and I are the co-chairs, to specifically focus on rebuilding our trade and economic relations, which had gone down in recent times. And we certainly look forward to having an early meeting of that body, definitely by the end of this year," said Jaishankar.
Trade and economic relations between Ukraine and India
Trade and economic relations between Ukraine and India have a long history and cover various sectors. India is one of Ukraine's key trading partners in Asia. The main areas of Ukrainian exports to India include agricultural products, particularly grains and oils, which meet a significant portion of the Indian food market's needs. Ukraine also exports metal products and machinery to India.
Imports from India to Ukraine include pharmaceutical products, chemical raw materials, and textiles. Additionally, both countries are interested in joint investments in technology, medicine, and education, which helps strengthen their ties.
The war in Ukraine has introduced certain adjustments to these relations, but both sides are eager to restore and further develop them. India has expressed its willingness to continue trade cooperation and increase mutual investments. This will not only help stabilize economic indicators but also strengthen the strategic partnership between the countries on the international stage.
Modi's visit to Kyiv
On Friday, August 23, Indian Prime Minister Narendra Modi arrived in Kyiv. This is the first visit by an Indian government head to Ukraine in the history of bilateral relations.
During his visit to Kyiv, Modi met with the Indian community and with Ukrainian President Volodymyr Zelenskyy.
For more details on why the Indian Prime Minister came to Ukraine and how this might affect the war, see the material by RBC-Ukraine.
