Azerbaijan emerges as an important supplier of crude oil: India

Baku, Nov 29: The Fifth round of India-Azerbaijan Foreign Office Consultations was held in New Delhi on 28 November 2022. The Indian delegation was led by Shri Sanjay Verma, Secretary (West). Deputy Foreign Minister of Azerbaijan, H.E. Mr. Elnur Mammadov, led Azerbaijan’s delegation. The 4th Foreign Office Consultations were held in Baku on 28 July 2016.

 

 

 

The two sides reviewed India-Azerbaijan bilateral relations comprehensively including, political, trade & economic, consular, cultural, and education matters. Views were also exchanged on regional issues and cooperation in the UN and other multilateral bodies.

 

 

 

This year India and Azerbaijan mark the 30th anniversary of the establishment of their diplomatic relations. India was one of the first countries to recognize the independence of Azerbaijan in 1991. The two countries have successfully diversified cooperation in various areas, especially in the trade, commerce, and energy sector. Bilateral trade has grown many-folds and today stands at around US$ 1 Billion (January-September 2022). Azerbaijan is emerging as an important supplier of crude oil to India. ONGC Videsh Limited has significant interests in Azerbaijan’s hydrocarbon sector.

 

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About 1400 Indians are living in Azerbaijan. Azerbaijan is also attracting growing numbers of Indian tourists.