Azerbaijan, Black Sea Trade And Dev't Bank Pave Way For Stronger Cooperation

(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 10.​ Azerbaijan's Minister of Finance and Country Manager for the Black Sea Trade and Development Bank (BSTDB), Sahil Babayev, hosted a delegation led by BSTDB President Serhat Köksal during their visit to Azerbaijan, the Ministry of Finance told Trend .

The meeting focused on the Bank's recent activities, existing partnership ties with Azerbaijan, the country's representation in the Bank, and future avenues for collaboration.

The Ministry noted that the BSTDB maintained a cautious consolidation approach amid a complex geopolitical environment, successfully implementing the first phase of its Medium-Term Strategy and Business Plan for 2023–2026. The Bank's results in 2024 and early indicators for 2025 underscore its operational capacity and financial resilience.

Babayev briefed the delegation on Azerbaijan's current economic performance and positive trends, highlighting steady progress in non-oil sectors, including agriculture, information and communication technology (ICT), manufacturing, logistics, and green energy. He emphasized that these reforms enhance the country's economic stability and promote inclusive, long-term growth.

The Minister praised the launch of the second phase of the Medium-Term Strategy and Business Plan, expressing confidence that expanding the resource base and fully forming the Bank's management board would enable greater achievements in the coming years. He also stressed the importance of BSTDB's investments in transport and logistics infrastructure, particularly in the context of opening new transport corridors and rehabilitating territories liberated from occupation.

During the visit, the signing of agreements with two banks was highlighted as a positive step, facilitating increased operations in Azerbaijan and direct lending to the private sector.

Köksal underscored that Azerbaijan represents a strategic partner for the Bank. He noted that ongoing reforms in the country create new opportunities for financial institutions, and expressed BSTDB's interest in participating in larger-scale projects and supporting joint initiatives in Azerbaijan.

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