Azerbaijan is interested in expanding cooperation with India in several areas - transport, tourism and pharmaceuticals. This was stated by Deputy Minister of Ecology and Natural Resources of Azerbaijan Firdovsi Aliyev during his speech at the Azerbaijani-Indian business forum.
According to him, at present the bulk of Indian cargo is delivered to Europe by sea via the Suez Canal. In this regard, the North-South transport project implemented by Azerbaijan jointly with neighboring countries will allow cargo transportation from India by land, which will significantly shorten the time and cost of transportation. Within the framework of the business forum, Azerbaijan and India signed memorandums of understanding. The memos were signed by Indian PHD Chamber of Commerce and Industry and the Confederation of Azerbaijani Entrepreneurs, as well as the PHD and the Azerbaijan Export and Investment Promotion Foundation.
Data of Azerbaijani State Customs Committee shows that export from Azerbaijan to India amounted to $365.5 million. As for India’s exports to Azerbaijan, it rose by more than 60 percent in 2017 compared to 2016. The items of imports from India are mainly clothes and textiles, information technologies, food items and heavy machinery.