(MENAFN- AzerNews) By Ayya Lmahamad
The delegation consisting of members of the expert group on
payment systems and digital banking, and representatives of the
payment systems and settlements department of Azerbaijan's Central
Bank is on an official visit to Turkiye, Azernews reports.
The main purpose of the visit, organized by the Azerbaijani Bank
Association (ABA), is to study Turkiye's achievements in the
digital transformation of the banking system and to identify areas
of mutual cooperation.
Within the framework of the visit, meetings will be held with
major financial facilities such as Interbank Card Center of
Turkiye, Ing Bank, Vakifbank, Ziraat Banki, Yapi Credit Bank, Aktif
Bank, Visa office in Turkiye, as well as Birlesik Odeme Hizmetleri,
Token and Payten fintech companies.
To note, ABA was founded in 1990 by commercial banks. The main
purpose of the ABA is to represent member organizations, support
their needs in various types of business services and coordinate
their activities. Currently, the ABA has 25 banks and 5 non-banking
organizations as members.
Azerbaijan and Turkiye collaborate in a variety of economic
sectors and have completed major energy and infrastructure
projects, such as Baku-Tbilisi-Ceyhan, Baku-Tbilisi-Kars, and
TANAP.
In 2021, Azerbaijan and Turkiye signed the Shusha Declaration on
Allied Relations, which focuses on defense cooperation, promoting
regional stability, and prosperity through establishing new
transport routes.
The two countries set up a goal of bringing the mutual trade
turnover to $15 billion in 2023. As of 2021, the trade turnover
between the two countries amounted to $4.6 billion. So far, Turkiye
is Azerbaijan's second-largest investor followed by the UK.
Additionally, Turkiye was one of the first countries keen on
involvement in the restoration of Azerbaijan's liberated
territories.
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Ayya Lmahamad is AzerNews' staff journalist, follow her on
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