It gives me great pleasure to be here in Moscow at the invitation of President H.E. Mr. Dmitry Anatolievich Medvedev. I thank President Medvedev and the people of Russia for giving me the honour of being their guest.

My talks in the Kremlin with the President of the Russian Federation were highly fruitful and held in a frank and friendly atmosphere in keeping with the Strategic Partnership between the two countries. The time-tested relationship between India and the Russian Federation has been marked by continuity, trust and mutual understanding.

We reviewed ongoing bilateral cooperation between India and the Russian Federation and exchanged views on ways and means to further strengthen India-Russia bilateral cooperation in the future. We also exchanged views on regional and international issues of importance to our two countries.

We noted with satisfaction the level of contacts between the political leadership of the two countries including the established practice of holding annual meetings at the Summit level as well as meetings and exchanges at Ministerial and other levels. India and the Russian Federation are determined to continue and further expand the excellent political contacts between the two countries. We attach great significance to the establishment of regular inter-parliamentary exchanges and institutionalized mechanisms of contact between the executive and judicial bodies of India and the Russian Federation. We look forward to the further intensification of these contacts.

We noted that there are ample opportunities for further expansion of relations, especially in the fields of space, energy including hydrocarbons and peaceful uses of nuclear energy, high technologies and military-technical cooperation.

We expressed satisfaction with ongoing efforts to achieve the bilateral trade target of US$ 10 billion by 2010 that has been agreed to by both sides. We also agreed that given the potential for economic cooperation that exists between the two countries, existing levels of bilateral economic cooperation remain much below their potential. The private sectors in both countries need to take a lead on this issue.

I am particularly pleased with the fact that my visit coincides with the celebrations of The Year of India in Russia. President Medvedev and I would be participating in a Gala Concert showcasing the colorful mosaic of Indian culture during my stay in Moscow.

I am looking forward to my meetings with the Prime Minister of the Russian Federation, His Excellency Mr. Vladimir Vladimirovich Putin and also with the Chairman of the Federation Council and the Chairman of the State Duma. In the second-leg of my visit to the beautiful city of St. Petersburg on 5th and 6th September, I would be meeting the President's Plenipotentiary Representative to the North Western Region of Russia as well as visiting the world famous Museum, the State Hermitage, and Peterhof.

The bonds between India and the Russian Federation are special and enduring and founded on civilizational and historical ties between the two countries. My visit to Russia reaffirms the priority that India and the Russian Federation accord to the Strategic Partnership between the two countries.

Thank you.