BAKU, Azerbaijan, May 5. On May 5, as part of
the Asian Development Bank (ADB) Annual Meeting in Samarkand,
Uzbekistan, Sahil Babayev, Minister of Finance of the Republic of
Azerbaijan, participated in the plenary session of the Board of
Governors on “Global Value Chains and Inclusive Development,”
Trend reports via the
Ministry of Finance.


The session focused on technological transformation in global
value chains, advancing regional integration, and strengthening
economic resilience. Participants highlighted that automation,
artificial intelligence, and digital technologies are rapidly
reshaping production and supply chains, elevating the role of the
service sector and creating new challenges for economies
worldwide.


The discussions also underscored the importance of skills
development, infrastructure enhancement, digitalization, and
expanded access to finance for developing countries to more
effectively integrate into global value chains. In this context,
the pivotal role of the ADB in fostering economic resilience
through regional cooperation and supply chain diversification was
emphasized.


On the third day of the Annual Meeting, Minister Babayev held a
bilateral meeting with Georgian Finance Minister Lasha
Khutsishvili. The sides reaffirmed the high level of strategic
partnership between Azerbaijan and Georgia, highlighting the
Intergovernmental Commission as a key platform for coordinating
bilateral cooperation and advancing priority areas within the
framework of institutional collaboration.


Babayev noted that cooperation in the field of transport and
transit, especially the Baku-Tbilisi-Kars railway and other
logistics routes within the framework of the Middle Corridor
connecting Asia and Europe, makes a significant contribution to the
expansion of regional trade and strengthening the sustainability of
supply chains. The Minister emphasized the importance of
strengthening coordination on transit policy in this area.


He also touched upon strategic regional energy projects and said
that the Caspian-Black Sea-Europe Green Energy Corridor and the
Azerbaijan-Georgia-Türkiye-Bulgaria energy corridor are of great
importance in terms of deepening regional cooperation, and
accelerating the implementation of these projects, as well as
attracting international financing, are among the priorities.


During the meeting, views were also exchanged on reforms in the
field of public finance, strengthening fiscal sustainability,
public-private partnership mechanisms, and cooperation with
international financial institutions, and the importance of
strengthening coordination on regional projects was emphasized. The
parties agreed to prepare and sign a memorandum of cooperation
between the Ministries of Finance of the two countries in the near
future.


During the meeting of Deputy Minister of Finance Himalay
Mamishov with representatives of the Ministry of Finance of the
People's Republic of China, the dynamic development of relations
between Azerbaijan and China was highly appreciated, and it was
emphasized that bilateral relations are based on political trust,
as well as increased cooperation in the fields of energy,
transport, and digital transformation. It was noted that Azerbaijan
is interested in further strengthening its partnership with China
on both bilateral and multilateral platforms, including within the
ADB. At the same time, Azerbaijan's commitment to the agenda of
strengthening transport and logistics connections in the region,
sustainable development, and regional integration was once again
expressed.


The meeting emphasized that more active participation of Chinese
companies in Azerbaijani industrial zones, expansion of cooperation
opportunities in the fields of manufacturing and green
technologies, digital economy, and logistics are in line with the
strategic interests of our country, and the importance of
implementing partnership projects in this direction.


Mamishov noted that China is one of Azerbaijan's main trade
partners. He said that there is great potential for further
expansion of economic and trade cooperation between Azerbaijan and
China. It was noted that, in particular, diversification of exports
and increasing trade turnover in the non-oil sector act as one of
the main development directions of mutual relations.


The Chinese side asked to consider the issue of Azerbaijan's
possible membership in the Shanghai Cooperation Organization
Development Bank.







During Mamishov's meeting with Konstantin Limitovsky, Chief
Investment Officer of the Asian Infrastructure Investment Bank
(AIIB), it was noted that cooperation between Azerbaijan and AIIB
continues successfully, and it was emphasized that the Bank acts as
one of the main international financial partners of Azerbaijan in
the areas of infrastructure development and green transition.


The Deputy Minister of Finance said that Azerbaijan, as a
founding member of AIIB, has been successfully continuing its
cooperation with the Bank since 2016, and this cooperation serves
the realization of the country's strategic development goals in
full accordance with "Azerbaijan 2030: National Priorities for
Socio-Economic Development". At the same time, commitment to the
Joint Declaration signed in September 2025 was once again
expressed.


The meeting noted that appropriate financing has been provided
for projects financed by the AIIB, including the TANAP gas
pipeline, the Banka and Bilasuvar solar power plants, and other
projects.


The parties also stressed the importance of expanding
cooperation in priority areas such as the expansion of the Baku
metro, sustainable infrastructure, green energy, climate financing,
public-private partnerships, and digital infrastructure, and
exchanged views on diversifying financing instruments and
strengthening regional cooperation.


Within the framework of the meeting, members of the Azerbaijani
delegation also participated in the event "Connecting Regions with
Tourism" held within the framework of the ADB's Central Asia
Regional Economic Cooperation (CAREC) program.


The session, moderated by Sunniya Durrani-Jamal, ADB Country
Director for Azerbaijan, noted that the share of the tourism sector
in global GDP currently amounts to approximately 10 percent, and
there is great potential to increase this indicator to 13 percent
in the CAREC region by 2030. The importance of coordinated action
among the countries of the region was emphasized to achieve this
goal.


Moreover, it was noted that in terms of tourism development, it
is of great importance to identify the comparative advantages of
the countries of the region, form unified tourism routes covering
the region, introduce unified visa mechanisms on these routes, and
simplify border-crossing processes. At the same time, the need to
widely apply digital tools in the tourism sector and take steps to
promote the region as a unified tourism destination was
highlighted.


In addition, increasing the activity of the private sector in
the tourism sector and creating a favorable business environment in
this direction were noted as important factors.


Within the framework of the event, it was also stated that ADB
is ready to provide support to the countries of the region in the
development of the tourism sector and strengthening regional
integration.