ICD implements project to connect Azerbaijan, Türkiye, Central Asia

The Islamic Corporation for the Development of the Private Sector (ICD) is implementing a project that will connect Azerbaijan, Türkiye and Central Asian countries.

Elvin Afandi, manager of the Corporate Strategy and Research division at the ICD, told Report.

"This project will increase participating countries' access to the global value chain and expand their export-import opportunities. We are currently holding talks in Azerbaijan with various state institutions and the private sector so that we can make farmers and small and medium-sized enterprises part of this project," he said.

According to Afandi, the goal of both the ICD and the International Islamic Trade Finance Corporation (ITFC) is to increase the import-export opportunities of the private sector, especially small and medium-sized enterprises.

"We have short- and medium-term financing projects in terms of joining the global import-export chain - buying equipment from another country or selling something to another country," he said.

The ICD official noted that the Islamic Development Bank Group's annual meeting, held in Baku this year, focuses on regional connectivity and logistics.

"We know that Azerbaijan wants to become an active participant in the Middle Corridor and global trade. The geopolitical situation has also shown that there is no stable and secure geographical space through which one can conduct all business. This opens up new opportunities for countries like Azerbaijan to attract international investment and for international traders to pay attention to a highly strategic country. In this regard, at this year's annual meeting, we will discuss turning the geopolitical situation into economic success," he said.