Azerbaijan Chamber of Auditors and the Institute of Chartered Accountants of India (ICAI) have signed a Memorandum of Understanding.

Charge d’Affaires of India in Baku Vinay Kumar also attended the signing ceremony.

The Memorandum of Understanding was inked during the “Accountability and Transparency in the Digital Economy” international scientific-practical conference organized by the Chamber of Auditors of Azerbaijan and the Ministry of Digital Development and Transport of Azerbaijan.

The conference brought together more than 100 delegates representing major international institutions, such as the International Federation of Accountants (IFAC), the Association of Chartered Certified Accountants (ACCA), the European Federation of Accountants and Auditors for SMEs (EFAA), as well as 8 countries – Azerbaijan, Turkiye, Russia, India, Georgia, Belarus, Belgium and Moldova.

According to the Azerbaijani statistics, bilateral trade between India and Azerbaijan has reached US$ 1.528 billion during the period from January – August 2022 with an increase of 159.5%, in comparison to the similar period of last year. Azerbaijan’s export to India has reached US$ 1.378 billion with an increase of 181.6% during the said period. India was the third largest export destination for Azerbaijan after Italy and Turkiye, during the period.

Source: Azerbaijan State News Agency