Baku: Azerbaijan’s Minister of Economy Mikayil Jabbarov recently held a meeting with a delegation led by the World Bank’s Regional Director for Welfare in Europe and Central Asia, Asad Alam, as reported by the Ministry to APA-Economics. The meeting underscored the ongoing successful cooperation between Azerbaijan and the World Bank.

According to Azeri-Press News Agency, the discussions centered around the country’s business development, emphasizing the growth of the non-oil and gas sectors, and promoting a green, export-oriented economy. The meeting also highlighted the importance of supporting entrepreneurship, particularly among small and medium-sized enterprises, while addressing the challenges and opportunities in these areas.

Both parties discussed the significance of national economic development and the critical role of the private sector. They also focused on promoting development-oriented investments and supporting innovation initiatives. Furthermore, they exchanged views on the strategic directions to be included in the draft ‘Strategy for the Socio-Economic Development of the Republic of Azerbaijan for 2027-2030.’

The discussions also covered the improvement of the business environment and the promotion of sustainable economic growth and employment. Additionally, they reviewed opportunities to apply international analyses on intensive business development and research methodologies to stimulate the private sector in Azerbaijan.