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Unlocking Trade Synergies: First Indo-Russia Trade Talks

Unlocking Trade Synergies: First Indo-Russia Trade Talks

BY Realty+
Published - Friday, 16 May, 2025
Unlocking Trade Synergies: First Indo-Russia Trade Talks

The Federation of Indian Export Organizations (FIEO), in collaboration with the Central Board of Indirect Taxes and Customs (CBIC) and the Embassy of Russia in India, successfully hosted the First India–Russia AEO Talk.

The congregation marked a key initiative to deepen India–Russia trade cooperation by promoting the Mutual Recognition Arrangement (MRA) under the Authorized Economic Operator (AEO)framework. The MRA aims to simplify and expedite customs procedures, strengthen trust between both customs administrations, and boost bilateral trade efficiency.

FIEO President, S C Ralhan highlighted that FIEO, representing over 37,000 exporters including 5,000 status holders, considers the India–Russia AEO MRA a strategic lever to boost bilateral trade, currently valued at $11 billion across key sectors such as petroleum, gold, automotive, pharmaceuticals, and chemicals.

DCM & Minister Counsellor of the Russian Embassy in India Roman Babushkin highly appreciated the endeavors of the FIEO and the customs services of both countries to raise the awareness of the AEO initiative. According to him, it plays a very instrumental role in the promotion and diversification of bilateral trade as well as in increasing the transparency, predictability and reliability of business transactions.

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