Azerbaijan outlines priorities in cooperation with BSTDB

Minister of Finance of Azerbaijan and Governor for Azerbaijan at the Black Sea Trade and Development Bank (BSTDB), Sahil Babayev, received a delegation led by BSTDB President Serhat Köksal, who is on a visit to the country.

According to Report, the meeting discussed the bank's activities, its partnership with Azerbaijan, including representation in the bank, and opportunities for future cooperation.

It was noted that the BSTDB continued its successful activities in 2024, remaining committed to a policy of cautious consolidation amid a complex geopolitical situation. The successful implementation of the first stage of the bank"s Medium-Term Strategy and Business Plan for 2023–2026, the results achieved in 2024, and preliminary indicators for 2025 demonstrate the organization"s operational capacity and financial resilience.

Babayev informed the guests about the current economic situation and positive trends in Azerbaijan. He also noted that consistent steps are being taken in the country to develop the non-oil sector, with significant results achieved in agriculture, ICT, manufacturing, logistics, and green energy. These reforms not only increase the resilience of the national economy but also ensure inclusive and long-term development.

The signing of agreements with two banks during the visit was assessed as a positive step. The importance of expanding operations in Azerbaijan, especially in providing direct loans to the private sector, was emphasized.

The importance of BSTDB investments in the development of transport and logistics infrastructure in the context of opening transport corridors and restoring territories liberated from occupation was also underlined.

Köksal stated that cooperation with Azerbaijan has strategic importance for the bank and stressed that the reforms carried out in the country are opening new opportunities for financial institutions. He noted that the BSTDB is interested in participating in larger-scale projects in Azerbaijan and will continue to support joint initiatives.