Azerbaijani minister says Middle Corridor seen as investment hub

The Middle Corridor is currently viewed not merely as a transit route, but as a comprehensive hub for joint processing of products, the establishment of a financial centre and the pooling of regional investment resources, Azerbaijani Economy Minister Mikayil Jabbarov has said.

During a panel discussion at the 2nd Azerbaijan International Investment Forum, he outlined that a key part of their activities is focused on exports, because they cannot afford to remain confined to own domestic market alone, Caliber.Az reports.

“Regional partnership is of paramount importance simply because, as I have already described, a key part of our activities is focused on exports, because we cannot afford to remain confined to our own domestic market. And the Middle Corridor, in this sense, is at the very centre of these processes — not simply as a route for transporting or transiting goods, but also for such things as joint processing hubs, a favourable environment, a financial centre and the financial resources of the region, as well as joint investments,” Jabbarov noted.

Jabbarov also highlighted the role of economic interdependence and integration among countries in the region.

“I think I will repeat the words of my dear friend, Minister Kudratov, about the interdependence of our economies and, in a way, their indispensability to one another. We need each other much more to move to the next level of qualitative development, because together we represent a much larger market, have significantly more diversified resources and ensure the harmonisation of processes — from the digitalisation of flows at borders, information processing and the movement of goods led by the private sector to cooperation in strategic areas such as energy security, the processing of critical minerals and much more,” the minister stressed.

By Bakhtiyar Abbasov