Baku: 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, emphasized that this meeting is taking place amid the global economy undergoing a critical transformation. He highlighted the importance of combining capital, innovation, and human capabilities to reinforce regional cooperation in light of geopolitical and climate challenges, as well as changes in supply chains.

According to Azerbaijan State News Agency, Sahil Babayev briefed participants on Azerbaijan's consistent economic reforms aimed at diversifying the economy, enhancing sustainability, and promoting regional collaboration. The minister noted the significance of cooperation with the BSTDB, stressing that member states are interconnected not only geographically but also through trade, investment, and sustainable development. He highlighted the BSTDB's role in transforming potential into economic opportunities by fostering regional integration and innovation.

Serhat K¶ksal, BSTDB President, expressed gratitude to Azerbaijan for its reliable partnership with the Bank and praised the country's dynamic economic development. He acknowledged Azerbaijan's strategic importance as a transport and logistics hub and conveyed the Bank's intention to enhance collaboration with the country, contributing to its development.

The meeting proceeded to review the BSTDB's activities for 2025, approve financial reports for the period, and sanction the budget for 2026. Bulgaria assumed the chairmanship of the 29th Annual Meeting, which is 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."