On July 1, the 28th Annual Meeting of the Board of Governors of the Black Sea Trade and Development Bank (BSTDB) was held in Baku, under the chairmanship of the Republic of Azerbaijan.
Before the meeting, BSTDB President Serhat Köksal and the bank’s leadership visited the Alley of Honor to pay tribute to the National Leader Heydar Aliyev and laid wreaths at his grave. They also honored the memory of the prominent ophthalmologist-scientist, Academician Zarifa Aliyeva, by laying flowers at her grave.
According to sea-news.az Finance Minister and BSTDB Governor for Azerbaijan, Samir Sharifov (acting as the session chair), stated in his opening speech that this prestigious event is taking place during a period of major transformations in the global economy. The Minister emphasized the importance of bringing together capital, innovation, and human potential to strengthen regional cooperation amidst geopolitical shifts, climate challenges, and the reconfiguration of supply chains.
Samir Sharifov spoke about the consistent economic policy implemented in Azerbaijan in recent years to enhance economic resilience, diversification, and regional cooperation. He highlighted that within these priorities, special attention is being paid to the development of non-oil sectors, such as transport-logistics, digital economy, and renewable energy, alongside the energy sector. He noted that significant investments have been made to create modern transport and logistics infrastructure connecting Europe, Central Asia, the South Caucasus, and the Middle East.
Touching upon the country’s transit potential, the Minister emphasized that Azerbaijan has become a key economic and logistics hub in the Eurasian space. He mentioned that the strategic importance of the “Middle Corridor,” along with large-scale investments in ports, road and rail networks, logistics centers, and digital infrastructure, has further strengthened the country’s position as a reliable transit and trade partner.
Discussing the cooperation between Azerbaijan and the BSTDB, the Minister noted that member countries are united not only by geographic proximity but also by common interests in trade, investment, and sustainable development. He stated that the BSTDB is a reliable partner for Azerbaijan, contributing significantly to turning existing potential into real economic opportunities through deeper regional integration and innovation. The Minister highly valued the bank’s support for private sector development, infrastructure financing, and trade, expressing interest in further expanding cooperation in priority areas.
In his speech, BSTDB President Serhat Köksal thanked the Azerbaijani government for the solid and reliable partnership formed over many years. He noted that over the past decades, Azerbaijan has become a country with a dynamic economy, strong institutions, modern infrastructure, and a diversified production base. Serhat Köksal emphasized that today, the country plays a crucial role not only as a leading energy producer but also as a strategic transport and logistics hub connecting East and West, North and South.
He added that the bank’s operations in Azerbaijan have continuously evolved in line with the country’s changing economic priorities. He stated that the Annual Meeting in Baku serves as a vital platform for building new partnerships, evaluating investment opportunities, and discussing practical support mechanisms for Azerbaijan’s next stage of development. Serhat Köksal expressed the bank’s readiness to expand cooperation in implementing new projects that will contribute to Azerbaijan’s sustainable growth.
At the Annual Meeting, the BSTDB’s activities for 2025 were evaluated, financial reports were approved, and the budget for 2026 was discussed.
It should be noted that the chairmanship of the 29th Annual Meeting of the Bank’s Board of Governors in 2027 will pass to Bulgaria.
The 28th Annual Meeting of the BSTDB Board of Governors will continue on July 2 with a Business Forum dedicated to the theme: “Connecting Markets and Diversifying Economies: Azerbaijan as a Regional Hub.”
