Beijing: A delegation from the Azerbaijan Banks Association (ABA) is set to enhance its collaborative efforts with the China Banking Association (CBA) by signing a cooperation memorandum. This development comes as part of the ABA's visit to China, where a working meeting was held with CBA leadership and representatives from its structural units.

According to Azerbaijan State News Agency, the meeting was organized by the Azerbaijan Banking and Financial Training Center. The ABA delegation was led by President Zakir Nuriyev, Executive Director Yunus Abdulov, and Chief Economist Azizagha Hakhverdiyev. From the Chinese side, CBA Vice President and Deputy Secretary-General Yin Youxiang, Secretary-General Xu Jieqin, and Director of the Research Department Li Jian participated in the discussions.

During the meeting, both parties explored their respective activities, priorities, and prospects for future cooperation. Presentations highlighted the achievements in the financial sectors of both countries. Notably, Azerbaijan was recognized for ranking first globally in 'financial services' in the World Bank's 2025 report, attributed to its robust regulatory framework.

CBA executives provided insights into China's banking sector and its strategic goals, while ABA officials discussed the Association's mission, international partnerships, and the ongoing cooperation between Azerbaijan and China. Both sides expressed a keen interest in exchanging banking expertise and pursuing potential joint projects.

The meeting concluded with a preliminary agreement to sign a cooperation memorandum between the ABA and CBA, marking a significant step forward in the banking collaboration between Azerbaijan and China.