Azernews.Az

BAKU – Azerbaijan offers India to establish a joint business council, head of an Azerbaijani business union said as the two countries’ businessmen gathered in Baku on Wednesday to explore avenues for economic cooperation.

"Such councils are active with a number of countries, for example, with Latvia. So, we are offering to set up such a council with India as well," the head of Azerbaijani National Confederation of Entrepreneurs Mammad Musayev said at the joint business forum.

Musayev suggested publishing a catalogue of Indian businessmen seeking to work in Azerbaijan and Azerbaijani entrepreneurs looking to do business in India.

Musayev said further that another business forum will be held in India in November or December. Such forums, he said, aim to stimulate the development of economic cooperation between Azerbaijan and India and explore potential areas for investments.

"Azerbaijani entrepreneurs are investing abroad mainly in Russia, Ukraine, Turkey, Belarus, and Moldova. We would like India to fill these ranks," Musayev said.

He also said Azerbaijan, which operates trade houses in a slew of countries, would like to establish one in India as well, in an effort to promote its goods.

Indian Ambassador Debnath Shaw said in his remarks at the forum that relations between the two countries are developing "step-by-step", and the only shortfall in this respect is the two countries’ poor awareness about each other.

"We are trying to fill this gap by holding such forums," Shaw said.

According to the ambassador, India is looking to expand its cooperation with Azerbaijan in the field of agriculture.

"Azerbaijan and India are already cooperating in the agriculture sector. Azerbaijan imports a number of agricultural goods from India, while we are interested in being directly involved in Azerbaijan’s agriculture sector. Indian businessmen could make investments in tea growing and processing, and the development of animal husbandry."

Shaw said the Indian economy was open for foreign investments except in several strategic fields including the defense industry and railways.

"Our government considers such infrastructure as roads, airports, schools and hospitals as a priority for foreign investments. But priorities of the state do not always overlap with those of the private sector."