BAKU, Azerbaijan, July 2. On July 2, the Black Sea Trade and Development Bank (BSTDB), in partnership with the Azerbaijan Export and Investment Promotion Agency (AZPROMO), hosted a Business Forum in Baku as part of the 28th Annual Meeting of the BSTDB Board of Governors, held under the chairmanship of the Republic of Azerbaijan.
This was reported by the Press Service of the Ministry of Finance.
Held under the theme “Connecting Markets, Diversifying Economies: Azerbaijan as a Regional Hub,” the Forum served as a platform for discussions on Azerbaijan’s economic development priorities, opportunities to strengthen regional cooperation, BSTDB’s projects in the country, and emerging trends and challenges in development finance.
Opening the Forum, Sahil Babayev, Minister of Finance of the Republic of Azerbaijan and Governor of BSTDB for Azerbaijan, highlighted the country’s strategic importance as a key economic and transportation hub connecting Europe and Asia. He emphasized that, alongside expanding transport connectivity, diversifying the economy, fostering a strong private sector, supporting the growth of competitive businesses, and strengthening integration into regional and global value chains are among Azerbaijan’s key priorities for achieving sustainable economic development.
Minister Babayev noted that Azerbaijan places great importance on its partnership with the BSTDB and expressed the country’s interest in further expanding cooperation, particularly in supporting small and medium-sized enterprises (SMEs). He also underscored the vital role of domestic financial institutions and private investors in financing priority development areas, stressing that continued close collaboration among governments, international financial institutions, commercial banks, and the business community is essential to unlocking new opportunities.
Speaking at the Forum, Serhat Köksal, BSTDB President, noted that Azerbaijan is pursuing a consistent and forward-looking policy aimed at strengthening resilience through market connectivity, economic diversification, and regional cooperation. He highlighted the country’s efforts to reduce its dependence on hydrocarbons, promote the development of the non-oil sector, support entrepreneurship, and enhance regional connectivity, creating new opportunities for investment and cooperation.
President Köksal emphasized that the BSTDB’s partnership with Azerbaijan has evolved over more than two decades, built on mutual trust, shared objectives, and a common commitment to the transformative role of private sector development. During this period, the BSTDB has supported numerous projects across financial services, manufacturing, trade, energy, and other sectors, contributing to job creation, enhanced competitiveness, and sustainable economic growth.
He also stressed the importance of the Business Forum in supporting Azerbaijan’s future development, describing it as an effective platform for establishing new partnerships, exploring investment opportunities, and expanding business networks.
As part of the event, participants viewed a video highlighting the evolution of cooperation between the BSTDB and Azerbaijan. In line with the agenda, the Forum featured panel discussions and bilateral business-to-business (B2B) meetings among representatives of financial institutions.
