BAKU, Azerbaijan, July 2. Expanding financial
cooperation has been discussed between Azerbaijan and
Switzerland.


This was reported by the Central Bank of Azerbaijan (CBA) on its
X social media account.


"During a working visit to Tashkent, a delegation led by CBA
First Deputy Chairman Aliyar Mammadyarov met with a delegation led
by Swiss National Bank Governor Martin Schlegel, State Secretary
for International Financial Affairs Christoph König, and State
Secretary for Economic Affairs Pietro Lazzerini.


At the meeting, the parties expressed satisfaction with the
current level of cooperation between the central banks of
Azerbaijan and Switzerland and exchanged views on global and
regional economic processes, the current macroeconomic situation in
Azerbaijan, and the development dynamics of the country's financial
sector," the report said.


According to the CBA, the parties also discussed opportunities
for expanding bilateral cooperation and other issues of mutual
interest.


Earlier, representatives of the Swiss State Secretariat for
Economic Affairs (SECO) told Trend in an exclusive interview that Switzerland has
been implementing a new regional program for 2026-2029 in the South
Caucasus region.


According to the secretariat, projects in Azerbaijan are focused
on macroeconomic support, improving the framework conditions for
the private sector, and enhancing the business environment,


"Since the beginning of this year, Switzerland has been
implementing a new regional program for 2026-2029 in the South
Caucasus region, which builds on the results of previous programs
and at the same time strengthens the focus on priority areas. The
overall objective of the program is to promote human security and
sustainable peace, develop civic engagement and democratic
institutions, enhance climate resilience, and ensure sustainable
management of natural resources, as well as promote inclusive and
"green" economic opportunities.


Given the importance of this agenda, climate resilience is both
a separate priority area and a cross-cutting theme of the program,
which means that climate aspects are systematically integrated into
all projects," the secretariat reported.







In addition, it was noted that SECO is currently implementing
programs in Azerbaijan aimed at expanding access to finance for the
rural population and supporting innovation for small and
medium-sized enterprises, as well as selectively promoting
macroeconomic stability.


"Through regional programs, the Swiss Agency for Development and
Cooperation supports the initiative to create a network of geoparks
in the South Caucasus, which will not only protect biodiversity and
geological heritage, but also promote sustainable sources of income
and regional cooperation.


Taking into account the budget, Switzerland is considering the
possibility of launching new projects which, if implemented, will
take climate sustainability into account as a key priority of the
2026-2029 program," SECO reports.


According to the information, SECO maintains close coordination
with Swiss companies and relevant business associations and
encourages private sector participation where appropriate.


In addition, it was emphasized that SECO is simultaneously
promoting the creation of a favorable business environment aimed at
strengthening the role of private enterprise through its regional
cooperation program.


"SECO pays particular attention to the modernization and
diversification of the financial sector, as well as the
strengthening of public finance management, drawing on Swiss
experience.


The initiatives supported have already yielded tangible results,
including improved quality and accessibility of advisory services
for agricultural SMEs, as well as the introduction of new
e-services that have significantly reduced costs.


SECO's goal is to consolidate and build on these achievements in
the coming years," the secretariat said.