BAKU — In a recent meeting held in Baku, Orkhan Nazarli, head of Azerbaijan’s State Tax Service, and Margaret Cotton, Deputy of the Chief Revenue Department of the International Monetary Fund (IMF), discussed expanding cooperation between Azerbaijan and the IMF. This dialogue took place against the backdrop of the International Forum on Carbon Pricing, emphasizing the role of fiscal policies in environmental sustainability.

According to Trend News Agency, the meeting underscored the importance of strengthening ties with the IMF to support Azerbaijan’s ongoing efforts to enhance the business environment and bolster public-private partnerships. The forum, co-organized by Azerbaijan’s State Tax Service and the European Organization of Tax Administrations (IOTA), highlighted the critical need for countries to adopt green economic policies and transition to low-carbon business models.

The discussions at the forum focused on decarbonization strategies that maintain economic stability, ensure fairness, and support business growth. “Examining the mechanisms for carbon pricing and the potential implementation of carbon taxes is essential for our joint efforts to foster a sustainable economic environment,” Nazarli noted.

Both parties explored ways to use tax instruments effectively in the decarbonization process, sharing international best practices and insights on the role of fiscal tools. The potential for deeper collaboration with the IMF was also a key topic, with discussions aimed at leveraging tax tools to develop a competitive, sustainable economy, and promote public-private initiatives.

This meeting marks a significant step in fostering international cooperation among tax authorities and aligning fiscal policies with global environmental goals, reflecting Azerbaijan’s commitment to integrating economic development with environmental stewardship.