BAKU, Azerbaijan, June 18. Azerbaijan and the
Islamic Development Bank Group are working on a partnership
strategy, said Azerbaijan’s economic minister Mikayil Jabbarov.
“Our partnership has reached new heights. Azerbaijan's share in
the bank has grown tenfold from 0.1 to 1 percent. Our portfolio has
expanded considerably. Together, we are working on further projects
in water supply and treatment, railways, and agriculture, including
in the liberated territories and the Alat Free Economic Zone.
Indeed, our cooperation has reached a strategic level. We are
currently working on a partnership strategy, and I will be pleased
to now sign a memorandum of understanding on the multi-year
partnership strategy program,” he said, addressing the opening
ceremony of the IsDB Group Annual Meetings in Baku.
The minister pointed out that Azerbaijan is open to gladly share
its own success stories, from economic transformation to human
capital development.
“Azerbaijan is committed to strengthening South-South bilateral
economic partnership models, an area relevant for majority of our
member states. I also thank the Bank's team for its leadership in
connecting Azerbaijan with Arab Coordination Group. Through the
dedication of its partners, we are advancing a multi-billion dollar
pipeline of projects in water, railways, and roads. Our national
strategy rests on the following key drivers: private sector
development, human capital, and technological transformation,”
added Jabbarov.
He went on to add that the progress that guests see will see
this week is not a result of a single reform, a single program, or
a single investment cycle, it is the outcome of a long-term
national vision pursued consistently over many years and supported
by institutions expected not only to formulate policy, but to
deliver results.
“We encourage the IsDB group to study how member countries can
further deepen regional cooperation through common frameworks that
strengthen connectivity, facilitate trade, and ease the movement of
people. We hope this will be one of the most enjoyable and
remarkable annual meetings ever,” said the minister.
