Indian economic delegation to visit Azerbaijan

In Baku, Shri Ramesh will sign the first-ever agreement with Azerbaijan for establishing the India-Azerbaijan Intergovernmental Commission on Trade, Economic, Scientific and Technological Cooperation. Along with the Managing Director of ONGC Videsh, he will also pursue India's interests for oil and gas exploration in Azerbaijan. ONGC Videsh has identified some promising prospects which it would like to develop, Azerbaijan having re-emerged as a major oil-rich country with the commissioning of the Baku-Tbilisi-Ceyhan pipeline that links Azerbaijan, Georgia and Turkey and is the world’s second longest oil pipeline connecting rich Caspian Sea oil reserves with the Mediterranean Sea.

Azerbaijan also having vast resources of minerals and metals, senior officials from MMTC and the National Mineral Development Corporation(NMDC) are accompanying Shri Jairam Ramesh, to explore the possibilities of entering into a Memorandum of Understanding for cooperation in the mineral sector with the Azerbaijan Government. BHEL has executed a major project for supply and installation of power generators. Indian pharmaceutical companies are also building their presence in Azerbaijan. The Minister of State's visit is expected to provide a fillip to these efforts.

Shri Ramesh is also accompanied by senior officials of the Department of Commerce, Ministry of External Affairs, Culture, Petroleum and Natural Gas and Science and Technology.

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