Armenia refuses to attend meeting of Black Sea Trade and Development Bank in Azerbaijan

The Armenian side does not participate in the 24th Annual Meeting of the Board of Governors of the Black Sea Trade and Development Bank (BSTDB) in Azerbaijan’s Baku city.

One of 11 members of the bank - Armenia missed the meeting in Baku, according to Report.

Representatives of the BSTDB member states, namely, Albania, Bulgaria, Georgia, Moldova, Romania, Russia, Türkiye, Greece and Ukraine are taking part in the meeting that kicked off on June 23 and will last two days.

BSTDB is an international organisation of the Black Sea Economic Cooperation Organisation, uniting 11 countries.

The distribution of shares in the organisation is as follows: Türkiye, Russia and Greece - 16.5 per cent each, Romania – 14 per cent, Ukraine and Bulgaria - 13.5 per cent each, Azerbaijan – 5 per cent, Albania – 2 per cent, Armenia – 1 per cent, Georgia and Moldova - 0.5 per cent each.

The bank seeks to develop economic cooperation, trade and cooperation among the countries of the Black Sea region.