Azerbaijan Economic Minister Views India as Interesting Market for Investments

Business Materials 11 April 2007 16:14 (UTC +04:00)

Azerbaijan, Baku / Trend , corr. I. Khalilova/ The Azerbaijani Government is ready to view India as one of the markets in which to put its investments. " India's market is very interesting to us for the expansion of our investment possibilities. We have to define foreign countries for our investments, and we consider India to become one of these markets," Heydar Babayev, Azerbaijan's Economic Development Minister, said during his meeting with Jayram Ramesh, India's State Minister for Commerce.

According to Mr. Babayev, the meting provided an impetus for economic cooperation between the two countries. "There are possibilities for us to cooperate with India starting from IT and the field of education inclusive. However, IT may become the priority in our future cooperation, as India is one of the leading-most countries in this field. We may also consider cooperating with India in reprocessing agricultural production; while Azerbaijan has a developed agricultural sector, India is much more experienced in this matter," said Mr. Babayev.

According to Mr. Ramesh, India leads the World in IT, particularly in software design, as well as in reprocessing foodstuffs, and pharmaceuticals.

At the same time, the Indian Commerce Minister believes that India and Azerbaijan holds more common in investments than in trade. He also suggested that the foundation of joint ventures in pharmaceuticals might be very interesting.