Jabbarov: Azerbaijan has 3 investment funds with Central Asian countries

Over the past five years, Central Asia has been the region where Azerbaijan's trade and transport ties have developed most rapidly, Azerbaijani Minister of Economy Mikayil Jabbarov stated, Report informs.

Speaking during a dialogue session with the Chairman of the Board of Governors under the theme Azerbaijan as Host and Coordinator: Green Transformation, Regional Integration, and Strategic Partnership at the bank's 51st Annual Meeting, Jabbarov mentioned that Azerbaijan views its relations with Central Asian countries as part of a unified economic ecosystem.

"Azerbaijan has three active investment funds with Kazakhstan, Uzbekistan, and Kyrgyzstan. Azerbaijan's share in these funds is 50%, 75%, and 100%, respectively. We encourage both public and private sector investments in these countries, while also showing openness to attracting investments from them," he said.

Jabbarov added that Azerbaijan serves as a natural hub for Central Asian countries rich in energy and mineral resources, providing access to the West through the Middle Corridor: "Azerbaijan aims to become a regional platform not only for cargo flows but also for the movement of ideas and innovations. Today, new forms of connectivity include cooperation in data centers, telecommunications, data transmission, and artificial intelligence. Azerbaijan"s geographic position enables the expansion of regional cooperation in these areas."

The minister stressed that Azerbaijan seeks to deepen cooperation with member states both within the IsDB platform and through bilateral formats.