BSTDB chief highlights Azerbaijan’s drive for economic diversification

Azerbaijan is pursuing a consistent and targeted policy aimed at strengthening market connectivity, diversifying its economy and enhancing resilience through cooperation, the President of the Black Sea Trade and Development Bank (BSTDB), Serhat Köksal, said.

Speaking at a business forum in Baku held within the framework of the 28th Annual Meeting of the Board of Governors of the bank, he noted that efforts to reduce dependence on hydrocarbon resources, develop the non-oil sector, promote entrepreneurship and strengthen regional ties are creating new opportunities for investment and cooperation, Caliber.Az reports via local media.

Köksal emphasised that the bank’s cooperation with Azerbaijan has been developing for more than 20 years on the principles of partnership, shared objectives and the transformative role of private sector development. 

According to him, over this period, BSTDB has made a significant contribution to job creation, improving competitiveness and supporting sustainable economic growth by financing numerous projects across financial institutions, manufacturing, trade, energy and other sectors.

He also underlined that the event serves as a favourable platform for establishing new partnerships, assessing investment opportunities and expanding business relations.

By Jeyhun Aghazada