India and Belarus sign bilateral trade agreement

Narendra Modi and Alexander Lukashenko studied the ‘architecture’ of India-Belarus partnership prior to exchanging ideas.

Modi said, “We exchanged views on bilateral issues, and on regional and global developments. We reviewed the architecture of our partnership and considered initiatives for further expansion of the ideas.”

As per the pact, the joint development between the two nations will uplift trade and investment for both the countries. The pact inked will also focus on a variety of areas such as oil & gas, education, agriculture, science & technology, defense, and sports.

PM Modi told to the media, “We will encourage joint development and manufacturing in the defense sector under the ‘Make in India’ program.”

The joint development offers the investment opportunities in pharmaceuticals and oil & gas. The Indian Prime Minister stated that Belarus and India have had a strong cooperation in the field of science & technology in the past.

Lukashenko added, “Indian investors will receive the most favorable and ideal condition for doing business in Belarus.”

Belarus is a member of India’s on-going negotiation with the Eurasian Economic Union (EEU) for a free trade agreement.

Lukashenko said, “We are serious of our intent. We initiated the Investment Protection Agreement between Indian and Belarus. I can promise my support for finalizing the free zone between India and the Eurasian Economic Union.”

The successful discussion was marked by the warmth of ties, which occurred after two and a half decades.

The India Post and the Postal Department of Belarus released a stamp to commemorate 25 years of diplomatic relations between the two nations.