Press Releases
Embassy of India
Baku
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The Finance Minister of India, Mr. Arun Jaitely met with the Finance Minister of the Republic of Azerbaijan in New Delhi on 21 February 2018. The two ministers discussed measures for expanding 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.
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, the bilateral trade between India and Azerbaijan has grown by more than 60% to reach around USD 540 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.
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