Growth in Indian Exports to Azerbaijan by over 7 % in the last six months
Growth in Indian Exports to Azerbaijan by over 7 % in the last six months stands as a testament to the historic and ever growing relations between India and Azerbaijan, H.E. Mr B Vanlalvawna, Ambassador of India to Azerbaijan
The bilateral trade between India and Azerbaijan has been growing unhindered despite the global slowdown witnessed by the world, amid the Covid-19 pandemic, Indian Exports to Azerbaijan have grown by over 7 % in the last six months, states H.E. Mr. B Vanlalvawna Ambassador, Embassy of India, Baku, Azerbaijan in the inaugural session of the Virtual B2B Meet organised by PHD Chamber of Commerce and Industry on 29th July,2020.
He lauded the efforts of PHD Chamber for being proactive in organizing Virtual B2B Meet through its virtual meet platform. The purpose of these B2B meet is to bring together sellers and buyers from both the countries through the virtual platform. He said that the pandemic has continued to disrupt the economic activities around the globe and the Business and Industry Houses around the world would have to adapt themselves to the dynamic changes bought by the pandemic.
Mr. Pradeep Multani, Vice President, PHD Chamber of Commerce and Industry in his welcome remarks shared the brief insights about the India-Azerbaijan trade relations and appraised about the impact of the pandemic on industries that rely on export and other international business activities. Talking further about the growing bilateral trade between India and Azerbaijan, he mentioned that it has grown at a fast rate in a multi-fold manner over the years. Items like crude oil, iodine, and others imported from Azerbaijan and items like mobile phones, rice, drugs, human vaccines, and many more exported from India. He mentioned that many Indian companies are working from Azerbaijan and have invested in sectors like energy, agriculture, food procession, tourism, ITC, printing, mobile manufacturing, infrastructure, etc. He talked about the recent projects between India and Azerbaijan that will help to strengthen the relations between the countries.
Mr. Purshottam Bhaggeria, Chairman, Int’l Affairs Committee for Europe & CIS, PHD Chamber in his address spoke about ever growing friendly and bilateral relations between India & Azerbaijan which were based on civilization linkages, culture affinities, shared values of understanding and respect for all cultures.
He mentioned that both countries have taken measures to enhance trade relations and further strengthen and expand their cooperation in trade and investment. Sectors like SME, agriculture, food safety, tourism, health and pharma, education, electronics, gems and jewelery, IT are of good interest to Azerbaijan. There is a need to exchange the trade basket and increase bilateral trade and investment.
He shared that in the last few years there has been a healthy growth in the relations of India and Azerbaijan. India has also emerged as one of the top exporting destinations for Azerbaijan products and there is a potential to increase India share in Azerbaijan’s global trade. IT service is one sector that has the potential to collaborate along with others like engineering. He shared some of the investment agreements between the two countries that can cater an efficient eco-system for both businesses.
Mr. Vikram Gera, Co-Chairman, Int’l Affairs Committee for Europe & CIS, PHD Chamber mentioned about the age-old cultural linkages and exchanges between India and Azerbaijan. He gave a historic perspective of the growing bilateral relationship between the countries which has been strengthening over the years. He also spoke about the Indian diaspora in Azerbaijan.
Mr. Saurabh Sanyal, Secretary-General, PHD Chamber while delivering a formal vote of thanks for the session apprised that the discussions and deliberations held over the virtual B2B meet will act as offshoots in furthering the trade and economic relations the two great nations
The inaugural session was moderated by Mr. Naveen Seth, Principal Director, PHD Chamber. The Session was attended by more than 100 representative companies from India and Azerbaijan.