BAKU, Azerbaijan, June 17. Azerbaijan strengthens its position as an important hub for regional trade and investments by advancing economic integration and scaling cross-border corridor projects effectively, Yusif Abdullayev, Executive Director of the Export and Investment Promotion Agency (AZPROMO), said, Trend's correspondent reports from the event.
He made the remark at a panel organized within the framework of the 51st Annual Meeting of the Islamic Development Bank (IsDB) Group in Baku.
He stated that Azerbaijan holds a significant strategic position in terms of expanding regional economic integration, trade, and investment opportunities.
The executive director noted that in the current global economic environment, amidst challenges such as geopolitical tensions, supply chain disruptions, climate change, and financial instability, effective risk management has become a key element of economic stability.
"Azerbaijan sees regional connectivity and commodity cooperation as one of the primary driving forces of long-term prosperity. Our country has consolidated its position as a strategic hub in the energy and transit sectors and simultaneously aims to become a regional hub for international trade and investments," he said.
According to Abdullayev, implemented infrastructure projects and economic reforms have further strengthened Azerbaijan's vital role in the East-West and North-South transport corridors. He noted that between 2020 and 2025, Azerbaijan's total trade turnover more than doubled, rising from $24.5 billion to $49.4 billion.
He emphasized that the country is also actively pursuing policies toward economic diversification:
"The energy sector remains one of the main pillars of the economy, but our vision is broader than that. We are creating new opportunities through industrial zones in fields such as pharmaceuticals, textiles, heavy and light industries, and mechanical engineering."
The executive director also mentioned that the Baku International Sea Trade Port has become one of the primary logistics centers in the Caspian region, while the Baku-Tbilisi-Kars railway provides a direct and fast transport connection between Asia and Europe.
According to him, investments in digital infrastructure, innovation ecosystems, and human capital are also accelerating Azerbaijan's transition to a knowledge-based economy.
"However, hard infrastructure alone is not enough. Regulatory differences, restricted access to finance, and institutional challenges still affect regional trade. For investors, confidence, a predictable environment, and risk protection are essential," he noted.
Abdullayev added that in recent years, Azerbaijan has taken major steps toward modernizing customs systems, expanding digital trade platforms, simplifying border procedures, and improving the legislative framework.
He stated that risk mitigation mechanisms carry special importance for attracting additional investments:
"In this context, institutions within the Islamic Development Bank Group, such as the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), play a crucial role in reducing investment and trade risks."
