India interested in increasing trade turnover with Azerbaijan – official

Politics Materials 29 July 2016 14:57 (UTC +04:00)
India is interested in increasing trade turnover with Azerbaijan.
India interested in increasing trade turnover with Azerbaijan – official

Baku, Azerbaijan, July 29

By Elena Kosolapova – Trend:

India is interested in increasing trade turnover with Azerbaijan, Secretary in India’s Ministry of External Affairs Sujata Mehta told reporters in Baku.

Mehta has arrived in Baku for several days to hold political consultations.

Mehta said the two countries’ trade turnover has decreased recently, in particular, due to the decline in oil prices and imports from India also reduced.

She noted that there is potential to increase the trade turnover between the two countries.

“India and Azerbaijan enjoy close and friendly relations with growing cooperation in many areas like education, IT, science and technology, and culture,” added the Indian official.

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

“In terms of bilateral ties in political dimension, I think we have good bases,” said Mehta. “We agree on a lot of issues.”

Azerbaijan’s geographical location is a very important feature, which will lead to greater development of bilateral cooperation, she noted adding that Azerbaijan could be a bridge connecting Asia with Europe, so this is the area where Azerbaijan and India can work together on various issues.

The launching of International North-South Transport Corridor, which will connect Indian ports with Azerbaijan and Russia through Iran, is the project with highest potential for enhancement of business and trade in the region, added Mehta.

It is expected that this route will give great impetus to the development of trade and economic relations between Azerbaijan and India, said the Indian official.

“Agriculture is another area where we plan to cooperate,” she noted. “Azerbaijan is keen to revive the cotton cultivation in the country. We can work together in this area”.

Mehta also said that India is also keenly interested in developing cooperation in energy sphere with Azerbaijan.

Indian company ONGC-Videsh Ltd holds share in Azerbaijan’s Azeri-Chirag-Guneshli oil field and the Baku-Tbilisi-Ceyhan pipeline.

“But we should not be limited only to oil and gas,” noted Mehta adding that there is the potential to cooperate in the sphere of renewable energy.

Speaking about possibility of launching direct flight between the two countries, the Indian official said that it would be of a great interest for the growth of tourism. She noted that for now, the launch of direct flights is not planned.

With easy visa procedures and direct flights, tourism between India and Azerbaijan will develop perfectly well, added Mehta.


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