BAKU, Azerbaijan, July 2. The Black Sea Trade and Development Bank (BSTDB) plays a highly important role in ensuring SOCAR Trading’s trade operations, Togrul Kocharli, Head of Global Business Development at SOCAR Trading, said during the BSTDB Business Forum in Baku, Trend's correspondent reports from the event.
“First of all, SOCAR already plays an important role in developing Azerbaijan’s non-oil sector. We produce and export fertilizers, polymers, and a number of other materials. However, to be frank, oil and gas remain our core business. In terms of trade finance, this is exactly where we cooperate with BSTDB. Trade finance is like ‘fuel’ for business: it keeps a company alive and enables it to grow. In this sense, the Bank’s role in supporting our trading operations is extremely important,” he said.
Kocharli noted that BSTDB contributes to strengthening regional integration, with Azerbaijan acting as a key transport and logistics hub, enabling cargo flows from Central Asia to reach international markets both via the Mediterranean and the Black Sea.
“The main export route for SOCAR’s crude oil and petroleum products runs through the Black Sea via the Kulevi terminals, where our export infrastructure is located. The flows passing through these terminals are already financed by the Black Sea Trade and Development Bank. We also use credit lines provided by the Bank to finance crude oil purchases for the STAR refinery owned by SOCAR and located in Aliağa, near Izmir. In addition, SOCAR holds a strong position in the petroleum products retail sector in Georgia. Financing from the Bank allows us to ensure competitive pricing, timely deliveries, and uninterrupted supply,” Kocharli emphasized.
