International Finance

Russia, India and South Africa meet at the 2017 BRICS Summit

Putin appreciates their trade relations and talks to strengthen the knots

Russian President, Vladimir Putin held a joint conversation with his South African President, Jacob Zuma and Indian Prime Minister, Narendra Modi on September 4th, in the Chinese city of Xiamen.

The trio had the meeting as a part of the 9th BRICS Summit, in which Putin appreciated the Indo-Russian friendship, “Relations between Russia and India have deep historical roots… I have to say that the results, including those of our joint work, are certainly positive… we are actively promoting military-technical cooperation.”

To continue their bilateral trade, Putin told Modi, “In the first six months of this year, we observe considerable growth – almost 22 percent, 21.9 percent. It goes without saying that we should preserve this positive trend.”

India has been trading with Russia for an extensive period of time. The deal has been with the Russian company, Rosneft, a chief oil company. But the $12.9 billion purchase deal with the Indian conglomerate, Essar was stroke off the previous month.

In the meeting, Putin talked with Zuma about “the downward trend in bilateral trade”. About their joint information security venture, Putin told Zuma, “We signed today an agreement on joint work on information security and we cooperate in a consolidated fashion in international organizations.”

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