Economy

Interactive business session held between Azerbaijan and India

30-03-2011 | 20:40        

  


An Interactive Business Session between India and Azerbaijan was held in Baku. Businessmen from both countries attended the meeting organized by Federation of Indian Chambers of Commerce and Industry, India’s embassy in Azerbaijan and Azerbaijani Confederation of Entrepreneurs. Trade turnover between Azerbaijan and India has grown 6 times over the past 5 years. President of the Azerbaijan National Confederation of Entrepreneurs Mammad Musayev said that Azerbaijan implements a number of programs in the fields of socio-economic development of regions and food security as well as non-oil-sector. India is in possession of great experience in this sphere. Mammad Musayev stressed that Azerbaijan was interested in India in terms of putting agriculture products to the world market and that the confederation is ready to render all necessary support to Indian companies for operating in Azerbaijan. He added that India is a leading country in ICT and software engineering. At the meeting, AEC President asked for support in making software for business people and banking sector of Azerbaijan that needs a lot to be done. Imported oil and gas make the significant part in the trade turnover between Azerbaijan and India - Sheila Sudhakaran, Assistant Secretary General of the Federation of Indian Chambers of Commerce and Industry said. She added that organization of such visits will give an impulse to enhancement of cooperation between the 2 countries. Mrs. Sudhakaran said that a few Indian companies operate in Azerbaijan and development of non-oil sector is the main task to be fulfilled. There is big potential for enhancement of cooperation in ICT, agriculture, banking sectors. It was also stated at the session that Azerbaijani business people are expected to pay a visit to India in the 2nd half of 2011 for boosting Azerbaijan-India relations. In conclusion, a memorandum of cooperation has been signed between Azerbaijan Entrepreneurs Confederation and the Federation of Indian Chambers of Commerce and Industry.