BSTDB Board of Governors’ Annual Meeting kicks off in Baku
Baku, July 1, AZERTAC
On July 1, the 28th Annual Meeting of the Board of Governors of the Black Sea Trade and Development Bank (BSTDB), under the chairmanship of Azerbaijan, opened in Baku.
In his remarks, Sahil Babayev, Minister of Finance and BSTDB Governor for Azerbaijan, highlighted that this prestigious meeting is taking place amid the global economy undergoing a critical transformation. The Azerbaijani finance minister stressed the importance of bringing together capital, innovation, and human capabilities to strengthen regional cooperation amid existing geopolitical and climate challenges as well as the reshaping of supply chains.
Sahil Babayev also briefed the participants on Azerbaijan’s ongoing consistent economic reforms aimed at diversifying the economy, enhancing its sustainability, and expanding regional collaboration.
Touching upon cooperation with the BSTDB, the minister said that the BSTDB member states are bound together not only geographically, but also through trade, investment, and sustainable development. He added that the BSTDB contributes significantly to turning existing potential into real economic opportunities by enhancing regional integration and advancing innovation.
Addressing the event, Serhat Köksal, BSTDB President, expressed his gratitude to Azerbaijan for its longstanding reliable partnership with the Bank. He also praised the country’s dynamic economic development and stressed its crucial role as a strategic transport and logistics hub.
Serhat Köksal further expressed the Bank’s willingness to advance collaboration with Azerbaijan, thereby contributing to the country’s development.
Subsequently, the meeting reviewed the BSTDB’s activities for 2025, approved the Bank’s financial reports for the period, and approved the budget for 2026.
Bulgaria then assumed the chairmanship of the 29th Annual Meeting, scheduled for 2027.
The BSTDB meeting will continue on July 2 with a Business Forum titled "Connecting Markets and Diversifying Economies: Azerbaijan as a Regional Hub."
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