India - Azerbaijan Business and Cultural Council

The Global India Business Forum (GIBF) team met the new Ambassador of the Republic of Azerbaijan to the Republic of India and felicitated him with a memento.

Ambassador and Consul General

The Global India Business Forum (GIBF) team met the new Ambassador of the Republic of Azerbaijan to the Republic of India and felicitated him with a memento. The GIBF team explained the aims and objectives of GIBF to the ambassador and updated him with GIBF’s work. The ambassador assured the Founder and Global President of GIBF, Dr. Jitendra Joshi and Co-founder and Secretary General, Deepali Gadkari of cooperation and collaboration with GIBF for mutual trade.

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Exports

Oil, Natural gas, Sugar, Fruit, Metals

Imports

Passenger cars, Wheat, Cigarettes, Sugar, Machines

About Azerbaijan

The Republic of Azerbaijan, also called simply as Azerbaijan is a country situated in between

eastern europe

and

western asia

. It has the

caspian sea

to the east and shares its borders with Russia, Georgia, Armenia and Iran. Baku is the capital of Azerbaijan and is the only metropolis in the country. The country was initially known as the Azerbaijan Democratic Republic and first got its independence in the year 1918 and was eventually incorporated in the USSR in 1920. It then came to be known as the Azerbaijan

soviet socialist republic

. However, when the

ussr dissolved

in 1991, the country became an independent one. Also, it became the first secular democratic Muslim-majority state. Azerbaijan is also a unitary state where the Central Government is considered as a supreme power. Also, the country is also a semi-presidential republic. It also shares diplomatic relations with over 158 countries and is a member of 38 international organisations like the United Nations, the

council of europe

and the

nato partnership

for Peace (PfP) program. The country also holds an observer position in the World Trade Organisation (WTO). Almost the entire population belongs to the Islam religion. Another interesting fact is that the country’s constitution does not have one religion as its official religion; all the political forces consider themselves a secularist.

Business Opportunities In Azerbaijan

Two-thirds of the country has large deposits of

oil and natural gas

. Also, the country has a lot of gold, silver, iron, copper and many other metal deposits, thanks to the region of the

lesser caucasus

. These deposits account for most of the country’s precious and other

industrial metals

. Azerbaijan is considered as a hot spot for oil mining and exploration mainly because there are many Western oil companies who are exploring the country’s untapped oil reserves. Hence, there are several business opportunities for other countries as well.

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Exports and Imports Azerbaijan

Exports of Azerbaijan decreased from $48,48,326.50 in Q4 of 2019 to $44,63,169 in Q1 of 2020. On the other hand, the country’s imports decreased from $32,12,064.50 in Q4 of 2019 to $25,90,101 in Q1 for the year 2020.

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Top Exports Of Azerbaijan

Oil and natural gas account for 95% of the total export revenue of the country. The country’s other exports include sugar, fruits, metals and polymers. The main export partners are Italy, the United Kingdom, the United States, Israel, Indonesia, France and Turkey.

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Top Imports Of Azerbaijan

The main part of the country’s imports is passenger cars, wheat, cigarettes, pharmaceutical products, sugar and machines. The main import partners of Azerbaijan are Turkey, Russia, Germany, the United Kingdom, the United States and Italy.

Business Opportunities video

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