BAKU, Azerbaijan, July 2. On July 2, the Black
Sea Trade and Development Bank (BSTDB), in partnership with the
Azerbaijan Export and Investment Promotion Agency (AZPROMO), hosted
a Business Forum in Baku as part of the 28th Annual Meeting of the
BSTDB Board of Governors, held under the chairmanship of the
Republic of Azerbaijan.
This was reported by the Press Service of the Ministry of
Finance.
Held under the theme “Connecting Markets, Diversifying
Economies: Azerbaijan as a Regional Hub,” the Forum served as a
platform for discussions on Azerbaijan’s economic development
priorities, opportunities to strengthen regional cooperation,
BSTDB’s projects in the country, and emerging trends and challenges
in development finance.
Opening the Forum, Sahil Babayev, Minister of Finance of the
Republic of Azerbaijan and Governor of BSTDB for Azerbaijan,
highlighted the country’s strategic importance as a key economic
and transportation hub connecting Europe and Asia. He emphasized
that, alongside expanding transport connectivity, diversifying the
economy, fostering a strong private sector, supporting the growth
of competitive businesses, and strengthening integration into
regional and global value chains are among Azerbaijan’s key
priorities for achieving sustainable economic development.
Minister Babayev noted that Azerbaijan places great importance
on its partnership with the BSTDB and expressed the country’s
interest in further expanding cooperation, particularly in
supporting small and medium-sized enterprises (SMEs). He also
underscored the vital role of domestic financial institutions and
private investors in financing priority development areas,
stressing that continued close collaboration among governments,
international financial institutions, commercial banks, and the
business community is essential to unlocking new opportunities.
Speaking at the Forum, Serhat Köksal, BSTDB President, noted
that Azerbaijan is pursuing a consistent and forward-looking policy
aimed at strengthening resilience through market connectivity,
economic diversification, and regional cooperation. He highlighted
the country’s efforts to reduce its dependence on hydrocarbons,
promote the development of the non-oil sector, support
entrepreneurship, and enhance regional connectivity, creating new
opportunities for investment and cooperation.
President Köksal emphasized that the BSTDB’s partnership with
Azerbaijan has evolved over more than two decades, built on mutual
trust, shared objectives, and a common commitment to the
transformative role of private sector development. During this
period, the BSTDB has supported numerous projects across financial
services, manufacturing, trade, energy, and other sectors,
contributing to job creation, enhanced competitiveness, and
sustainable economic growth.
He also stressed the importance of the Business Forum in
supporting Azerbaijan’s future development, describing it as an
effective platform for establishing new partnerships, exploring
investment opportunities, and expanding business networks.
As part of the event, participants viewed a video highlighting
the evolution of cooperation between the BSTDB and Azerbaijan. In
line with the agenda, the Forum featured panel discussions and
bilateral business-to-business (B2B) meetings among representatives
of financial institutions.
