BAKU, Azerbaijan, June 17. Azerbaijan attaches
great importance to long-term and fruitful cooperation with the
Islamic Development Bank (IsDB) Group, considering it a strategic
priority, Azerbaijani Economy Minister Mikayil Jabbarov said at the
opening ceremony of Private Sector Forum 2026 in the second day of
the Annual Meeting of the IsDB Group in Baku, Trend's correspondent
reports from the event.


The minister noted that since Azerbaijan joined the IsDB in
1992, cooperation between the parties has been based on mutual
trust, shared priorities, and practical results.


"Our relations with the Islamic Development Bank Group cover
areas such as private sector development, trade financing,
infrastructure projects, support for small and medium-sized
businesses, green transition, and digital transformation. These
areas are also key priorities of Azerbaijan's national economic
strategy," Jabbarov emphasized.


According to him, economic diversification remains one of the
country's main strategic goals.


"We see great potential in manufacturing, agriculture and food
processing, logistics, renewable energy, digital technologies, and
other export-oriented non-oil sectors. By combining Azerbaijan's
capabilities with the IsDB Group's financial instruments and
extensive partnership network, we can accelerate the implementation
of both economically efficient and development-oriented projects,"
the minister noted.


Jabbarov also noted that under the leadership of President Ilham
Aliyev, Azerbaijan has taken its rightful place in the IsDB family,
and the country's development is accompanied by the emergence of
new economic opportunities.


"Azerbaijan provides a wide range of support mechanisms to
transform these opportunities into concrete investment projects.
These include tax and customs privileges, investment protection,
preferential financing instruments, industrial parks, and
investment-ready platforms such as the Alat Free Economic Zone," he
explained.


The minister emphasized that significant investment
opportunities also exist in the liberated Karabakh and East
Zangezur economic regions.







"Currently, Azerbaijan's largest reconstruction program is being
implemented in these areas. These regions, located on the Middle
Corridor, further strengthen the role of our country as an
important logistics and transit hub connecting Europe, Central
Asia, and Asia," Jabbarov noted.


He added that the results of the implemented policy are already
reflected in economic indicators.


"The average annual growth rate of the non-oil and gas economy
from 2021 through 2025 was 6%. During this period, the share of the
non-oil and gas sector in GDP increased from 58% to 71%. At the
same time, non-oil and gas exports more than doubled compared to
2018," the minister said.


Jabbarov underscored that the practical results of cooperation
between Azerbaijan and the IsDB Group will be reflected in the
documents to be signed within the framework of the forum.


"Today, a number of important documents will be signed between
the Azerbaijan Entrepreneurship Development Fund and the Islamic
Private Sector Development Corporation (ICD), including the
Framework Agency Agreement, which will serve to expand business
entities' access to financial resources," he noted.


The minister called on investors, financial institutions, and
business representatives to take a closer look at the opportunities
in Azerbaijan.


"We believe that Azerbaijan is an attractive, reliable, and
fully prepared place to do business, form partnerships, and invest.
We are ready to work together with the IsDB Group, member
countries, and representatives of the private sector to turn these
opportunities into long-term and sustainable partnerships,"
Jabbarov concluded.