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India-Azerbaijan Construction Business Forum in Baku

Posted on : 12-09-2017 | Back | Print

India-Azerbaijan Construction Business Forum in Baku

The National Confederation of Entrepreneurs (Employers’) Organizations of Azerbaijan Republic (ASK) organized an India-Azerbaijan Business forum of companies dealing with Real estate development and construction business at the Fairmont hotel in Baku on 8 September 2017. From India, more than 50 representatives of companies from the Marathi Bandhkam Vyasayik Association (Maratha Construction Business Association) ( MBVA) based in the western part of India participated in the business forum and held meetings with Azerbaijani companies and businessmen.

The India-Azerbaijan Construction Business Forum at Fairmont Hotel was co-chaired by the Vice President of ASK, Mr. Vugar Zeynalov and Ambassador of India to Azerbaijan, Mr. Sanjay Rana. Mr. Vugar Zeynalov welcomed the visit of Indian delegation and said that it was a good opportunity for Indian and Azerbaijani companies to have B2B discussions on various possibilities of cooperation between them.

Speaking on the occasion, President of MBVA Mr. GajendraPawar said that Indian delegation had planned their visit to Azerbaijan with a view to explore business opportunities for its members in the field of construction, infrastructure and other areas that could give a boost to trade and investment relations between the two countries. He added that the Indian delegation was enthusiastic about the business opportunities in Azerbaijan and they look forward to forming a strong business relationship with businesses in the country.

General Secretary of MBVA, Mr. Sandeep Kolatkar said that the Indian delegates were very impressed by the spectacular architecture of Baku and the amazing development of the public spaces in the city. They hoped that their visit would to more Joint ventures and enhanced business relationships between Indian and Azerbaijani companies.

Ambassador of India, Mr. Sanjay Rana said in his speech at the symposium that Azerbaijan was an important business partner for India and the business relations between the two countries were strong and developing in many areas. India was a partner in the Oil and Gas sector of Azerbaijan with its equity participation in Azeri- Chirag Guneshli Oil fields. The trade turnover between the two countries was US $497 million in 2016 which has further increased by more than 65 percent during the current year. He said that the level of bilateral trade is set to increase even further with the launch of International North-South Transport Corridor (INSTC) which will accelerate and ease transportation of goods from India to Azerbaijan and beyond through Iran.

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