Azernews.Az

By Amina Nazarli

To strengthen the Indian-Azerbaijani relations in all areas, Director General at the Indian Commerce and Industry Ministry, Sunil Kumar visited Azerbaijan to attend the 4th Meeting of the Joint Inter-governmental Commission on October 25-26, the Indian embassy reported.

The head of the Indian delegation met Huseyngulu Baghirov, Minister of Ecology and Natural Resources of Azerbaijan and conveyed India’s desire to strengthen relations with Azerbaijan in all areas, including in bilateral trade, investment and their cooperation in the fields of trade, economic, scientific and technology.

During his Baku visit, the Indian official also met with Gulmammad Javadov, Deputy Minister of Energy.

During the event, the sides signed a Protocol for further expansion of the cooperation in trade, investment, transportation, energy, industrial production, agriculture, tourism, healthcare, pharmaceuticals, education and Information technology.

Kumar stated that India appreciates the efforts being made by Azerbaijan for development of the International North-South Transport Corridor, which is being developed jointly by Azerbaijan, Iran, India and Russia.

He said that the Corridor will give a big push to regional economic and commercial exchanges and transform the regional transportation in the coming years.

“India has supported establishing greater coordination among all stakeholders to streamline the customs and other procedures so that cargo could move fast and efficiently on this route<�’ he said.

India has close and friendly relations with Azerbaijan and was among the first countries to recognize Azerbaijan and establish diplomatic ties.

The bilateral trade between India and Azerbaijan during 2016 has increased by more than 28 percent as compared to same period in 2015.

The trade turnover between India and Azerbaijan amounted to $142.36 million in January-June 2016 (compared to $180.89 million in the same period of 2015), according to Azerbaijan’s State Statistics Committee.

India’s ONGC Videsh is a shareholder in Azeri–Chirag–Gunashli oilfield and Baku-Tbilisi-Ceyhan (BTC). As the Azerbaijani government is taking steps aimed at developing the non-oil sector, the Indian companies are keen to make use of opportunities in non-oil sectors, like agriculture, industrial production, pharmaceuticals and information technology.

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