Azerbaijan, India discuss economic cooperation

Baku, February 23, AZERTAC Azerbaijan`s Finance Minister Samir Sharifov has met with Indian counterpart Arun Jaitley in New Delhi. The two ministers discussed measures to expand bilateral cooperation between the two countries, particularly in the area of trade and investment and exchange of trade and business delegations. The discussions also dealt with the bilateral agreements being negotiated between the two sides, namely, Bilateral Investment Treaty and the Double Taxation Avoidance Agreement. They noted that India and Azerbaijan enjoy close friendly relations based on historical links and growing bilateral cooperation. India’s ONGC-Videsh is an equity partner in Oil and Gas sector in Azerbaijan. In 2017, India’s export to Azerbaijan has grown by more than 60% and total bilateral trade between India and Azerbaijan has reached around USD 460 million. India and Azerbaijan have growing cooperation in capacity building under the Indian Technical and Economic Cooperation (ITEC) programme which provides fully paid training programmes for Azerbaijani professionals and students in Indian institutions.