Finance

Finance

Azerbaijan and India sign agreement on mutual legal assistance on civil and commercial issues - PHOTOSESSION

Azerbaijan and India sign agreement on mutual legal assistance on civil and commercial issues - <font color=red>PHOTOSESSION</font>

16 April 2012 14:19 (UTC +04:00)

Delivering speech at the event Azerbaijanâ€™s Minister of Ecology and Natural Resources, co-chairman of the commission on the Azerbaijani side Huseyngulu Bagirov reminded that the first meeting was held in New Delhi in April, 2009. He noted that Azerbaijnai side would try to extend the cooperation between the two countries.

The minister gave information about the successes during the past 10 years and development of economy. It was noted that in Q1, 2012, non-oil sector of Azerbaijan grew by more than 16%. To him, the volume of trade turnover between the two countries rose 22% in 2011 and made more than $411 mln, as well as import made $44.7 mln, export - $366 mln.

In comparison with the first two months of this year, the volume of trade turnover between the two countries rose 68% to $157 mln, a well as import made $17.7 mln, export - $139.7 mln.

Speaking about long-term relations between Azerbaijan and India, Indian Minister of Trade and Industry Jyotiraditya Scindia noted that these ties should be developed more. The minister offered to sign business agreements and eliminate double taxation.

Within the meeting, an agreement was signed on mutual legal assistance on civil and commercial issues. At the end of the meeting, it is considered to sign final protocol and agreement on air communication between the governments of Azerbaijan and India.