Indian honchos head for Azerbaijan

The Indian delegation - brought together by Confederation of Indian Industry (CII) - will be on a three-day visit from Oct 4 to boost commercial ventures and projects in that region.

Some of the companies represented in the delegation include Atlas Cycle Limited, Aryan Coal Limited, Builcon Group and CSJ Networks.

Bilateral trade between the countries will be initiated with the signing of a memorandum of understanding (MoU) between CII and the Azerbaijan Chamber of Commerce and Industry.

High-level discussions will be held on various issues pertaining to IT, oil and gas (new projects), healthcare, medical equipment, mining and mining equipment, transport sector and agriculture equipment, said a CII release.

India's current bilateral trade with Azerbaijan is $34.68 million, with exports worth $28.82 million and imports $5.86 million.

Some of the export items from India consist of meat, pharmaceuticals, apparel, machinery, ores, tobacco and iron and steel.

India's major imports from Azerbaijan include aluminium, copper, electrical machinery, precision instruments, iron and steel, rubber, pearls, precious stones and jewellery.

This visit is also expected to give an impetus to the 1998 agreement that envisages regular consultations on economic and technical cooperation between both the countries. IANS

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