Baku, Azerbaijan, Sept.17
By Aygun Badalova - Trend:
Dubai Chamber of Commerce and Industry organized a three-day Azerbaijan Bankers Trade Mission to Dubai from September 16 to 18, CPI Financial said on Sept.17.
The trade mission, led by Farid Akhundov, CEO, Pasha Bank, consisted of 10 leading Azerbaijani bankers, and senior representatives from the Central Bank of Azerbaijan, Baku Stock Exchange, and Azerbaijan Banking Association who attended a CEO Roundtable discussion on the banking sector and site visits to important financial institutions and economic entities.
The discussion session was also attended by H.E. Elkhan Gahraman, Ambassador of Azerbaijan to the UAE.
Dubai Chamber organized the trade mission in coordination with its Azerbaijan representative office in Baku which is the first overseas office set up as part of the Chamber's efforts to explore promising markets of the world and to enhance the competitiveness of Dubai businesses in the global business arena.
In his welcome address during the CEO Roundtable entitled Expanding bilateral banking ties between Dubai and Azerbaijan, H.E. Hisham Al Shirawi, Second Vice-Chairman, Dubai Chamber, stated that this latest visit by the Azerbaijan's banking and financial sector delegation will further enhance and strengthen the bilateral ties enjoyed by the two sides.
"This will also lead to exchange of experiences and knowledge of the emirate's world-class financial services sector which is one of the leading drivers of Dubai's economic growth,'' said Al Shirawi.
He added that Dubai today is a leading financial hub in the region due to its well-developed logistics and infrastructure network, business-friendly laws, and ample investment opportunities for the multicultural world business community to thrive in the emirate which is a getaway to the regional markets.
Al Shirawi called upon Azerbaijani representatives of leading banks and financial institutions to set up base in Dubai and to benefit from the attractive investment opportunities in the emirate's lucrative economic sectors including trade, tourism, logistics and financial services as well as real estate, while assuring them of all the assistance from the Chamber's representative office in Baku, the capital of Azerbaijan.
Farid Akhundov, CEO of Pasha Bank, delivered a report on the growth of the banking sector of Azerbaijan and the investment opportunities the sector offers to overseas investors. He lauded the UAE, especially Dubai's successful model of a market-driven economy which he said will help Azerbaijan's financial sector to follow and become a world-class financial centre.
.Rajai Ayyash, Vice Chairman, Bankers Business Group operating under the umbrella of Dubai Chamber said that the UAE is a safe haven for foreign investors as the country's banks are in a strong position to withstand external shocks. They are well-capitalized and ready to enter Central Asian markets and compete with their overseas counterparts.