India and Azerbaijan have agreed to expand investment cooperation beyond the oil industry and energy sector, Indian External Affairs Minister Subrahmanyam Jaishankar said at a joint press conference with Azerbaijani Foreign Minister Jeyhun Bayramov in Baku.

Axar.az reports, citing Repоrt, Jaishankar noted that the two sides discussed broadening bilateral relations, with particular emphasis on trade, investment, and energy.

"Considering the complementary nature of our economies, we believe there is significant potential to further expand bilateral trade and investment," he added.

The Indian foreign minister highlighted that Indian companies have maintained a strong presence in Azerbaijan for many years, particularly through investments in the country"s oil and energy sectors.

Jaishankar further stated that the parties reviewed measures and exchanges aimed at further developing economic cooperation.

According to the minister, the two countries have a long history of cultural ties and people-to-people exchanges. Mutual respect for each other's cultures and values provides a foundation for developing a more productive partnership.