Azerbaijan, India to expand economic co-op

The creation of a digital platform on which the lists of agricultural products, pharmaceuticals, consulting, IT, and other services for cooperation between Indian and Azerbaijani companies can be placed will play an important role in the activities of entrepreneurs in Azerbaijan and India.

Deputy Secretary-General of the National Confederation of Entrepreneurs (Employers) Organizations of Azerbaijan Fuad Humbatov made this statement during an online conference on the promotion and development of business between India and Azerbaijan, as well as problems and prospects after a post-pandemic period, Trend reports.

“Business consulting of the confederation also plays an effective role in this direction. In addition, taking into account the interests of Indian entrepreneurs, especially in the production of pharmaceuticals, leather goods and agricultural products, it is necessary to consider state support mechanisms to open production facilities in the relevant industrial parks in Azerbaijan and encourage investment in these parks,” said Humbatov.

Humbatov also informed about the effective activities of the confederation in the created working groups in the country in relation to the pandemic and spoke in detail about the state support for the economic and social sectors.

“Azerbaijan and India have great potential for cooperation in these areas, in particular in the areas of tourism, agriculture, pharmaceuticals, services, consulting, and IT, and we need to develop a roadmap for cooperation in the post-pandemic period,” he said.

The meeting, initiated by the Indian Embassy in Azerbaijan, was also attended by President of the Indian Chamber of Commerce and Industry DK Aggarwal, Indian Ambassador to Azerbaijan Bawitlung Vanlalvawna, Vice-President of the Indian Chamber of Commerce and Industry Pradeep Multani and General Director Naveen Seth, Secretary of the National Confederation of Entrepreneurs (Employers) Organizations of Azerbaijan, Head of Investment Department at Azerbaijan Export and Investment Promotion Fund (AZPROM) Zohrab Gadirov and others.

The participants exchanged views on the current situation in the world in connection with the pandemic, and its impact on, and consequences for, the global economy. The need to restore trade and economic ties between countries in the post-pandemic period was also noted.

In conclusion, the representatives of the confederation and AZPROMO answered numerous questions of Indian entrepreneurs.


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