There is greater scope for expansion of economic ties between Azerbaijan and India: H.E. Mr Ashraf Shikhaliyev, Ambassador of Republic of Azerbaijan to India

No.PR-137

February 5, 2020

New Delhi

There is greater scope for expansion of economic ties between Azerbaijan and India: H.E. Mr Ashraf Shikhaliyev, Ambassador of Republic of Azerbaijan to India

Economic and business relations between Azerbaijan and India has a further scope of expanding, said H.E. Mr Ashraf Shikhaliyev, Ambassador Extraordinary and Plenipotentiary, Embassy of the Republic of Azerbaijan, in an interactive session with business delegation from Azerbaijan, organised by the PHD Chamber of Commerce and Industry at PHD House, New Delhi on Friday.

H.E. Mr Shikaliyev promised the Indian businessmen opportunities to benefit mutually from trade and commerce. He hoped that discussions held at the interactive session will be taken to the next level and would lead to even more rapid business growth. Tourism has increased manifold in Azerbaijan due to easy facilitation of visas by their government. At present, 230 Indian companies that operate in Azerbaijan, have invested US$ 1.2 billion in the Azerbaijani economy, he said.

Mr. Jeyhun Salmanov, Deputy Chairman of the State Agency for Public Service and Social Innovations under the President of the Republic of Azerbaijan (ASAN Service), discussed about the potential for cooperation in the information & communication technology (ICT) and electronics sector. Mr Salmanov mentioned that the ASAN has created an enabling ecosystem for Startups and innovations in his country. Referring to the age-old ties between the two countries, Mr Salmanov said that they have a solid foundation for building partnership between their government corporations and companies.

While welcoming the foreign business delegation, Mr Pradeep Multani, Vice President, PHD Chamber of Commerce and Industry said that the cooperation between the two countries has been growing. Azerbaijan has valued the important contribution of the Indian community to the country. At the government level, the relationship between the two countries is significant and both countries have exchanged visits by heads of state, he added.

On the trade and commerce front too, the relationship has been sound. During the year 2016-2017, total trade between India-Azerbaijan stood at US$ 497 million, comprising of US$ 60 million of exports to Azerbaijan and US$ 437 million of imports from the country, said Mr Multani.

In his special address, Mr Kunal Singhal, Co-Chairman, ICT and Electronics Committee, PHD Chamber of Commerce and Industry, congratulated the success of ASAN for its wide range of utilities and services and its extensive use of digitalization and other emerging/modern technologies. India requires learning more about ASAN model, he added. Mr Singhal invited ASAN and SINAM, the largest software and system integrated company of Azerbaijan, to partner with Indian companies and work together for the growth and development of ICT sector in India.

Mr. Vikram Gera, Co-Chairman, International Affairs Committee for Europe & CIS, PHD Chamber of Commerce and Industry, gave a perspective for improving trade ties between Indian corporations and Azerbaijan.

End.

Media Division

PHD Chamber of Commerce and Industry