Drafted by Russia’s Ministry of Foreign Affairs and the Federal Space Agency , the document aims to foster cooperation between the two countries on the basis of mutually benefit, in potential fields such as satellite positioning, aerospace telecom technology, remote earth exploration, and space medicine and biology.
It is also to create an organisational and legal framework for bilateral collaboration in researching and using space for peaceful purposes.
According to the agreement, the financing of joint activities will be implemented in accordance with the two sides’ law, while specific financial responsibility for joint activities will be defined through supplementary documents.
If the agreement is ratified, it will help organisations and enterprises operating in space and missile industries in Russia promote their production activities.
The bill is scheduled to be discussed at Russia’s cabinet meetings in the near time.
