BAKU, Azerbaijan, May 5. The Finance Ministries of Azerbaijan and Georgia have reached an agreement to prepare and sign a memorandum of cooperation, Trend reports via the Azerbaijani Ministry of Finance.
The agreement was reached during the third day of the Asian Development Bank (ADB) Annual Meeting held in Samarkand, Uzbekistan.
Within the framework of the event, Azerbaijani Finance Minister Sahil Babayev met with Georgian Finance Minister Lasha Khutsishvili. The meeting emphasized the high level of strategic partnership between the two countries, and it was noted that the Intergovernmental Commission is an important platform for coordinating bilateral cooperation and developing priority areas within the framework of institutional cooperation.
Babayev noted that cooperation in the field of transport and transit, especially the Baku-Tbilisi-Kars railway and other logistics routes within the framework of the Middle Corridor connecting Asia and Europe, significantly contribute to the expansion of regional trade and strengthening the sustainability of supply chains. The Minister emphasized the importance of strengthening coordination on transit policy in this area.
He also touched upon strategic regional energy projects and said that the Caspian-Black Sea-Europe Green Energy Corridor and the Azerbaijan-Georgia-Türkiye-Bulgaria energy corridor are of great importance in terms of deepening regional cooperation, and accelerating the implementation of these projects, as well as attracting international financing, are among the priority areas.
During the meeting, views were also exchanged on reforms in the field of public finance, strengthening fiscal sustainability, public-private partnership mechanisms and cooperation with international financial institutions, and the importance of strengthening coordination on regional projects was emphasized. The parties agreed to prepare and sign a memorandum of cooperation between the Ministries of Finance of the two countries in the near future.
