Azerbaijani-Indian trade and economic links to be examined in Baku
Azerbaijan, Baku, November 18 / Trend, V. Zhavoronkova /
The second meeting of the Azerbaijani-Indian intergovernmental commission on trade, economic and scientific-technical cooperation is scheduled to take place next January, the Indian Ambassador to Azerbaijan Debnat Show reported. The meeting should have taken place in November or December this year.
"A wide spectrum on the issues of the expansion of economic links between the two countries will be examined at the meeting to be held in Baku," Mr. Show said.
The commission is co-chaired by Azerbaijani Ecology and Natural Resources Minister Huseyngulu Bagirov and Indian Trade Minister Jotiradityah Sindiah. The first meeting was held in 2009.
The State Customs Committee of Azerbaijan reported that trade turnover between the two countries in the first nine months of this year was $324.7 million, a decrease of 0.79 per cent against the respective period last year.
Similarity trade between Azerbaijan and India saw a six fold increase against $56 million in 2005 and in the following five years. Trade relations between Azerbaijan and India began in 1992.
Accounting for the turnover's bigger part, is the export of petroleum products from Azerbaijan to India. The latter is also eager to increase exporting non-oil products primarily its traditional goods such as meat, tea, medicines and clothes to Azerbaijan.
The National Entrepreneurs' Confederation of Azerbaijan (NECA) and the Federation of Indian Chambers of Commerce and Industry (FICCI) signed a Memorandum of cooperation last March to provide a closer cooperation between the business communities of the two countries.