Moscow: India and Russia have agreed to make joint efforts to find new ways and means to bilateral economic linkages by removing trade barriers and encouraging investment.

A joint statement adopted following talks between Prime Minister Atal Bihari Vajpayee and President Vladimir Putin said the two leaders attached primary importance to working out a policy to assist the private sector.

The two sides agreed to hold the first meeting of the joint working group to settle inter-state financial obligations, including the possibility of broader use of funds coming from India's repayment of its debt taken from defunct Soviet Union and Russian Federation on credit for investment in Indian territory, Itar- Tass news agency said.

Earlier in the day, Russia and India signed a Memorandum of Understanding (MoU) between Vneshtorgbank and Export Credit Guarantee Corporation of India.

PTI