The Confederation of Indian Industry (CII) is organising a business delegation to visit Baku, Azerbaijan from October 4 - 6 October with the objective of pursuing investment opportunities in that Country, Trend reports.
Bilateral discussions are likely to focus on exploring and defining key areas of co-operation and investment and to push relations between India and Azerbaijan onto the fast track.
This initiative greatly amplifies the level of interaction between the two Countries envisaged by the 1998 agreement to hold regular consultations on economic and technical cooperation.
The three-day visit of the business delegation to Baku can be seen as part of a long-term strategy to engage with the Caucasus region in general and Azerbaijan in particular.
A new chapter in bilateral trade between the two Countries will be flagged off by the signing of a Memorandum of Understanding between The Confederation of Indian Industry and the Azerbaijan Chamber of Commerce and Industry.
Businessmen and senior government officials from Azerbaijan and India will be interacting and holding focused discussions on a wide range of issues in sectors such as IT (both hardware and software), IT education, Oil and Gas (new projects), healthcare, medical equipment, mining and mining equipment, the transport sector and auto components, as well as in the Agriculture equipment sector.
India's bilateral trade with Azerbaijan displays an overall growth trend. Trade was worth 34.67 million dollars in 2006, with exports worth 28.82 million dollars and imports worth 5.86 million dollars.