New Delhi, Jan 15 (IANS) Optimising the India-Russia shipment route and development of investment cooperation are the issues that need attention to boost bilateral trade, Russia's Ambassador to India Vyacheslav Ivanovich Trubnikov said here Monday.

"The lack of an efficient shipment route pushes up freight costs and its development through Iran has been delayed on account of the unstable political situation (there)," Trubnikov said at a session on the India-Russia trade relations organised by the Confederation of Indian Industry (CII).

The session provided an opportunity for Indian business leaders to encourage bilateral investments and to point out roadblocks in the run-up to Russian President Vladimir Putin's India visit later this month.

A CII study, 'Deepening India-Russia Trade Relations', released on the occasion, suggested that the north-south corridor provides the shortest link between India and Russia through Iran and the Caspian Sea. The corridor can help reduce costs by nearly one-third.

The study suggests that a comprehensive economic cooperation agreement, under consideration now, can make economic sense only if there is a viable route for transport of goods.

"Both India and Russia need to resolve problems concerning the issue of visas since the movement of professionals is important here," it said.

Better and more up-to-date information can help businessmen of both countries find qualified partners, Trubnikov said. The launch of the website on trade between India and Russia is a step in this direction, he added.

"The launch of another trade portal to facilitate online interaction between businessmen will be the next step," he said.

The India-Russia trade was $2.76 billion in 2005-06, a 41 percent growth over the previous year. Trubnikov said it should grow further given a series of high-level initiatives taken by both sides in 2006 and more coming in 2007.

"The visit of President Putin to India later this month, the Russian-Indian forum on trade and investment in February and another business meeting in June are some of the forthcoming events to foster bilateral trade," he said.