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Eastern Economic Forum, India to focus on boosting Vladivostok-Chennai trade corridor

Indian delegation at the Eastern Economic Forum in Vladivostok, September 2024. The forum focuses on enhancing trade, investment, and maritime corridors between India and Russia,

Eastern Economic Forum

India is set to send a high-level delegation to the Eastern Economic Forum (EEF) in Vladivostok from September 3-6, aiming to strengthen its presence in the resource-rich Far East. The Modi administration plans to dispatch a Cabinet Minister to focus on maritime transport corridors and other strategic areas.

This move aligns with recent agreements between India and Russia to boost trade, investment, and shipbuilding projects. Following their July summit, Prime Minister Narendra Modi and President Vladimir Putin agreed to expedite the development of the Vladivostok-Chennai Eastern Maritime Corridor, linking it with the Arctic region's resources. The initiative also includes a joint shipbuilding project to enhance maritime trade.

India has plans for a trans-shipment hub in the Bay of Bengal, and while the Eastern Maritime Corridor is operational, additional infrastructure in Chennai is needed to handle increased trade volumes. In 2023, Shipping Minister Sarbananda Sonowal represented India at the EEF.

The Modi-Putin summit emphasized deepening trade and investment cooperation in the Far East and Arctic regions. India and Russia have signed a cooperation program for 2024-2029, covering sectors such as agriculture, energy, mining, and maritime transport. The program aims to strengthen ties between India and Russia's Far East, with a focus on developing transport corridors.


The joint statement from the summit highlighted efforts to create efficient transport corridors and expand logistics links, including the Chennai-Vladivostok Corridor and the International North-South Transport Corridor. The agreement also includes optimizing customs procedures with digital systems for smoother trade.

The forum, which began in 2015, is expected to attract global leaders and business figures, including Malaysian Prime Minister Anwar Ibrahim and Chinese Vice President Han Zheng. Russia hopes to showcase its ties with China and other nations amid ongoing Western sanctions and deepen cooperation with countries not imposing sanctions.

Russian President Vladimir Putin is scheduled to deliver a keynote speech at the plenary session on Thursday, marking the midpoint of the four-day event.

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