Technology transfer with India expected

By Azernews

By Leman Mammadova

Azerbaijan and India are ready to share experience in the field of information technologies.

Trade Representative of the Indian Embassy in Azerbaijan Vinay Kumar has got acquainted with the activities of the Innovation Agency under the Ministry of Transport, Communication and High Technologies.

The guests got acquainted with the laboratory, Barama Business Incubation and Acceleration Center operating in the Innovation Agency.

During the meeting, the representatives of the embassy were informed about the activities of the Innovation Agency in the field of high technologies, future plans and the country's existing innovation ecosystem.

The main objective of the discussions was conduction of a training program for a month or more in India to implement technology transfer between local universities and India and enhance the skills of employees working in Azerbaijan’s innovation ecosystem.

The sides also exchanged views on the prospects of cooperation in the field of innovation and high technologies, including investment opportunities in Azerbaijan.

To date, more than 20 cooperation documents based on the international legal framework have been signed between India and Azerbaijan.

Indian companies are interested in developing mutually beneficial partnership with Azerbaijan, particularly in agriculture, IT and communications, healthcare, pharmaceuticals and education.

Presently, as many as 230 companies with Indian capital operate in Azerbaijan, whose investments in the country's economy totaled $1.2 billion.

Azerbaijan and India are working on the preparation of an agreement on the promotion and mutual protection of investments.

The volume of trade turnover between Azerbaijan and India amounted to $930 million in 2018, $720 million of which accounted for imports of Azerbaijan from India.

Azerbaijan imports many goods from India including pharmaceuticals products, engineering goods, automobiles and spares, agricultural and meat products and IT services.

Azerbaijan is developing the non-oil sector and Indian companies are interested in using opportunities for non-oil sector development in such areas as agriculture, industry, pharmaceuticals and information technology.

Indian companies are interested in many incentives provided by the Azerbaijani government for investors in technology and agro parks.