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Our Bureau

New Delhi April 15 India and Azerbaijan have agreed to co-operate in several areas including the oil and gas sector.

Also, Indian companies are set to play a greater role in the development of Azerbaijan's rapidly expanding oil and gas industry, according to an official statement from the Commerce Ministry.

The decision was taken at a meeting last week at Baku between the President of Azerbaijan, Mr Ilham Aliyev, and the Minister of State for Commerce, Mr Jairam Ramesh.

At the end of a 45-minute discussion, Mr Aliyev agreed to ONGC Videsh and SOCAR, the State-owned oil and gas exploration company of Azerbaijan, starting talks for co-operation for investments in hydrocarbon-rich Azerbaijan.

While Mr Aliyev sought India's assistance in enhanced oil recovery and deep sea drilling, Mr Ramesh has offered GAIL's expertise in gas-based petrochemicals and city-gas distribution.

To begin with, ONGC Videsh and GAIL will participate in the Caspian Sea Oil and Gas Exhibition being held at Baku on June 3-4.

According to the statement, Mr Ramesh also briefed the President of India's interests in exploring for gold in Azerbaijan, particularly since India is now the world's largest importer of gold.

MMTC and NMDC will work with their Azerbaijani counterparts to identify specific areas where prospecting and appraisal work can be undertaken.

Mr Aliyev expressed deep appreciation for India's offer to help establish a centre for education and training in IT in Baku.

He agreed with the observations made by Mr Ramesh that India's great strength lies in skills training and HR development, particularly in management, law and science and technology.

Mr Ramesh also offered India's assistance in tapping the high wind energy potential in Azerbaijan.

The Minister said that Indian companies like Vestas and Suzlon have become globally prominent and already, about 4,500 MW of wind energy capacity has been established in India.

During his visit, Mr Jairam Ramesh and Mr Haiyder Babayev, the Minister for Economic Development of Azerbaijan, signed an agreement to set up a Joint Inter-Governmental Commission on Trade, Investment and Economic Co-operation.

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