AT the Second Session of the India-Azerbaijan Inter-Governmental Commission on Trade (IGC), the Indian Minister of State for Commerce, Mr J Scindia, called for early finalisation of DTAA and Bilateral Investment Promotion and Protection Agreement between the two countries to encourage investment flows. Mr Scindia also stressed necessity of establishing the International North-South transport corridor (INSTC) to improve the connectivity problems between the two nations and called for joint efforts towards identifying issues and impediments in the smooth functioning of the Corridor.

A Protocol signed at the end of the meeting identified key areas of cooperation such as pharmaceuticals, energy, transport, agriculture and IT sectors and also suggested steps to overcome the existing barriers. It also recommended specific measures like finalisation and implementation of agreements to give a legal basis and provide comfort to the economic and financial relationship.