On July 2, a business forum was held in Baku as part of the 28th Annual Meeting of the Board of Governors of the Black Sea Trade and Development Bank (BSTDB), chaired by the Republic of Azerbaijan. The forum was jointly organized by the bank and the Azerbaijan Export and Investment Promotion Agency (AZPROMO).
According to sea-news.az the forum, dedicated to the theme “Connecting Markets and Diversifying Economies: Azerbaijan as a Regional Hub,” served as a platform for an exchange of views on Azerbaijan’s economic development priorities, the expansion of regional cooperation, projects implemented by the BSTDB in the country, and current trends and challenges in development financing.
Opening the forum with introductory remarks, Sahil Babayev, Azerbaijan’s Minister of Finance and Governor of the BSTDB for Azerbaijan, spoke about the country’s strategic importance as a vital economic and transport hub connecting Europe and Asia. The Minister emphasized that to ensure sustainable economic development, priority is placed not only on developing transport links but also on diversifying the economy, forming a strong private sector, developing competitive companies, and strengthening integration into regional and global value chains.
Noting that cooperation with the BSTDB is of special importance to Azerbaijan, Sahil Babayev stated that they are particularly interested in further expanding the partnership to support small and medium-sized enterprises (SMEs). The Minister also highlighted the role of local financial institutions and private investors in financing priority development areas, noting that maintaining a close partnership between governments, international financial institutions, commercial banks, and business circles is crucial for realizing new opportunities.
Speaking at the forum, BSTDB President Serhat Köksal stated that Azerbaijan is implementing a consistent and purposeful policy aimed at connecting markets, diversifying the economy, and strengthening resilience through cooperation. He noted that efforts to reduce dependence on hydrocarbon resources, develop the non-oil sector, promote entrepreneurship, and strengthen regional connectivity are creating new opportunities for investment and collaboration.
The BSTDB President emphasized that the bank’s cooperation with Azerbaijan has developed over more than 20 years based on mutual trust, shared goals, and principles of partnership centered on the transformative role of private sector development. According to him, during this period, the BSTDB has contributed significantly to job creation, increased competitiveness, and the promotion of sustainable economic growth by supporting numerous projects in financial institutions, manufacturing, trade, energy, and other sectors.
Serhat Koksal underscored the importance of the business forum in supporting Azerbaijan’s future development, noting that the event serves as a favorable platform for establishing new partnerships, evaluating investment opportunities, and expanding business relations.
During the event, a video showcasing the development path of cooperation between the BSTDB and Azerbaijan was presented.
Following the agenda, the forum continued with panel sessions and bilateral (B2B) meetings between representatives of financial institutions.
