Bangalore, Oct 27 (IANS) The foreign ministers of Russia, India and China (RIC) Tuesday began a meeting here to explore business opportunities in key sectors and collaboration on playing a greater role in world affairs.

India’s External Affairs Minister S.M. Krishna, Russian Foreign Minister Sergei Lavrov and Chinese Foreign Minister Yang Jiechi will exchange views on regional and international issues as well.

This is the ninth trilateral meeting. India’s IT capital, Bangalore, hosts a major international meeting 23 years after the second South Asian Association of Regional Cooperation (SAARC) summit in November 1986 under then prime minister Rajiv Gandhi.

Krishna is from Karnataka and has served as chief minister of the state.

‘The foreign ministers of RIC countries will discuss trade and business opportunities in infrastructure, energy, chemicals, pharmaceuticals and nanotechnology for mutual benefit,’ external affairs ministry spokesperson Vishnu Prakash told reporters Monday evening.

‘Some of the global issues on the agenda are climate change, world trade and the global financial crisis from which the world is gradually emerging,’ Prakash noted.

The three foreign ministers will sign a joint declaration after the two-hour long meeting.

The three countries account for 20 percent of the global landmass and 39 percent of the global population.

The interaction is being held against the backdrop of bilateral meetings Krishna and Lavrov had during the 15th session of the Indo-Russian inter-governmental commission in Moscow Oct 21; and between Indian Prime Minister Manmohan Singh and Chinese Premier Wen Jiabao at Hua Hin, Thailand, on the margins of the Indo-ASEAN summit Oct 24.

‘The RIC process also encourages academic exchanges. India enjoys most important and time-tested relations with Russia based upon mutual trust, continuity and understanding,’ Prakash said.