Samarkand: China has expressed interest in Azerbaijan’s potential accession to the Shanghai Cooperation Organization Development Bank.
According to Azerbaijan State News Agency, Sahil Babayev, Azerbaijan’s Finance Minister, is attending the 59th Annual Meeting of the Asian Development Bank (ADB) in Samarkand, Uzbekistan. He participated in the plenary session of the Board of Governors, which focused on transforming global value chains, technology, and inclusive development.
The meeting discussed technological changes in global value chains and ways to enhance regional integration and economic resilience. Participants emphasized the importance of skill development, infrastructure improvement, digitalization, and expanding access to finance to better integrate developing countries into global value chains.
On the third day of the meeting, Babayev met with Georgian Finance Minister Lasha Khutsishvili. The ministers noted the strategic partnership between Azerbaijan and Georgia, highlighting the Intergovernmental Commission as a key platform for coordinating bilateral cooperation. They discussed reforms in public finance, fiscal sustainability, and public-private partnerships, agreeing to draft a memorandum of cooperation between their finance ministries.
In a separate meeting, Himalay Mamishov, Azerbaijan’s Deputy Minister of Finance, met with representatives from the Chinese Ministry of Finance. Both sides praised the development of Azerbaijan-China relations, which are based on political trust and increasing cooperation in energy, transport, and digital transformation. The Chinese delegation suggested considering Azerbaijan’s membership in the Shanghai Cooperation Organization Development Bank.
Mamishov also met with Konstantin Limitovskiy, Chief Investment Officer of the Asia Infrastructure Investment Bank (AIIB), where they noted successful cooperation in Azerbaijan’s infrastructure and green energy sectors. The Azerbaijani delegation attended an event titled “Connecting Regions Through Tourism,” part of the ADB’s Central Asia Regional Economic Cooperation program. The session, moderated by Sunniya Durrani-Jamal, ADB Country Director for Azerbaijan, emphasized the tourism sector’s potential to grow from 10 percent of global GDP to 13 percent in the CAREC region by 2030, highlighting ADB’s commitment to regional tourism and economic integration.