India seeks reduced import duties with Azerbaijan
By Nigar Abbasova
India, the sixth largest economy in the world, is eager to reduce import duties with Azerbaijan, as the current level of trade between the countries is far below the existing potential.
The issue was high on agenda during the meeting between the representatives of the Gem & Jewellery Export Promotion Council (GJEPC) and Indian Ambassador to Azerbaijan Sanjay Rana.
GJEPC Chairman Praveenshankar Pandya asked the ambassador to put forward a suggestion on the reduction of import duty for the consideration of the Finance Ministry of Azerbaijan, mentioning that the level of trade between the countries is currently at a negligible level.
Besides, GJEPC representatives intend to invite Azerbaijani jewelers to participate in the Signature IIJS exhibition, which is deemed to be the country’s top-of-the-line jewellery show.
The exhibition is scheduled for February 2017.
The ambassador, in turn, offered to organize an export mission of Indian jewelers to Azerbaijan, and organize a jewellery exhibition in the country.
He mentioned that the best period for the exhibition would be either January-March or September-November.
The trade turnover between the countries stood at $451.13 million, with some $399 million accounting for export to India. India currently ranks the 11th in the list of main trade partners of Azerbaijan.
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Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova
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