BAKU, Azerbaijan, June 17. Azerbaijan
strengthens its position as an important hub for regional trade and
investments by advancing economic integration and scaling
cross-border corridor projects effectively, Yusif Abdullayev,
Executive Director of the Export and Investment Promotion Agency
(AZPROMO), said, Trend's correspondent reports from the event.
He made the remark at a panel organized within the framework of
the 51st Annual Meeting of the Islamic Development Bank (IsDB)
Group in Baku.
He stated that Azerbaijan holds a significant strategic position
in terms of expanding regional economic integration, trade, and
investment opportunities.
The executive director noted that in the current global economic
environment, amidst challenges such as geopolitical tensions,
supply chain disruptions, climate change, and financial
instability, effective risk management has become a key element of
economic stability.
"Azerbaijan sees regional connectivity and commodity cooperation
as one of the primary driving forces of long-term prosperity. Our
country has consolidated its position as a strategic hub in the
energy and transit sectors and simultaneously aims to become a
regional hub for international trade and investments," he said.
According to Abdullayev, implemented infrastructure projects and
economic reforms have further strengthened Azerbaijan's vital role
in the East-West and North-South transport corridors. He noted that
between 2020 and 2025, Azerbaijan's total trade turnover more than
doubled, rising from $24.5 billion to $49.4 billion.
He emphasized that the country is also actively pursuing
policies toward economic diversification:
"The energy sector remains one of the main pillars of the
economy, but our vision is broader than that. We are creating new
opportunities through industrial zones in fields such as
pharmaceuticals, textiles, heavy and light industries, and
mechanical engineering."
The executive director also mentioned that the Baku
International Sea Trade Port has become one of the primary
logistics centers in the Caspian region, while the
Baku-Tbilisi-Kars railway provides a direct and fast transport
connection between Asia and Europe.
According to him, investments in digital infrastructure,
innovation ecosystems, and human capital are also accelerating
Azerbaijan's transition to a knowledge-based economy.
"However, hard infrastructure alone is not enough. Regulatory
differences, restricted access to finance, and institutional
challenges still affect regional trade. For investors, confidence,
a predictable environment, and risk protection are essential," he
noted.
Abdullayev added that in recent years, Azerbaijan has taken
major steps toward modernizing customs systems, expanding digital
trade platforms, simplifying border procedures, and improving the
legislative framework.
He stated that risk mitigation mechanisms carry special
importance for attracting additional investments:
"In this context, institutions within the Islamic Development
Bank Group, such as the Islamic Corporation for the Insurance of
Investment and Export Credit (ICIEC), play a crucial role in
reducing investment and trade risks."
