India seeks to up imports of Azeri oil – envoy
BAKU – India’s ambassador in Baku has said imports of Azerbaijani oil currently account for most of bilateral trade and his country is seeking to increase the volume of purchased oil.
Debnath Shaw told a joint business forum in Baku Wednesday that Indian companies are seeking to sign long-term oil contracts with the resource-rich South Caucasus republic.
"Several such proposals have been made and discussions held, but no final result was achieved," Shaw said.
He said Indian-Azerbaijani trade turnover made up $330 million in 2010. In the first five months of 2011, the volume of bilateral trade exceeded the figure reported in the whole of last year.
Goods other than Azerbaijani crude account for less than $50 million of the annual trade turnover, according to the ambassador.
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