BAKU, Azerbaijan, July 28
Trend:
The 5th annual meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB) was held in the format of videoconference on July 28, the Azerbaijani Ministry of Economy told Trend on July 28.
The long-term trends and short-term macroeconomic changes in the development of the Asian region, the measures taken by AIIB in the fight against COVID-19 and other issues were discussed at a meeting entitled "AIIB approach to support the members in the medium and long term prospects until 2030".
While delivering a speech, the guest of honor of the annual meeting, President of the People's Republic of China Xi Jinping stressed that AIIB, uniting 102 participating countries, has become an international financial institution.
Jinping expressed satisfaction with AIIB’s successful activity, the support rendered by the bank to the member-states during the coronavirus pandemic and made recommendations in connection with the upcoming activity of the bank.
While speaking at the event, AIIB Governor from Azerbaijan, Azerbaijani Minister of Economy Mikayil Jabbarov stressed that Azerbaijan attaches great importance to the development of cooperation with AIIB and informed about the jointly implemented projects and the development of corporate policy during the next 10 years.
It was noted that TANAP project, supporting regional trade and energy security of Europe is one of the successful examples of cooperation with AIIB.
Stressing that Azerbaijan has an advantageous geographical position, the minister of economy pointed out that having created a modern infrastructure, Azerbaijan turned into an international transport hub. .
“Despite all Azerbaijan’s efforts for regional development, Armenia’s aggressive policy creates big obstacles for the expansion of economic cooperation in the region and limits the full realization of the economic potential,” the minister said.
Jabbarov informed the participants of the event that over the past three decades, 20 percent of the internationally recognized territory of Azerbaijan is under Armenia’s occupation and over a million people have become refugees and internally displaced people.
“The Armenian armed forces have subjected the Azerbaijani positions, which were not on the front line zone, but on the border between the two countries, to the artillery fire since July 12,” the minister added.
“As a result, servicemen and civilians were killed and injured,” Jabbarov said. “Armenia’s provocation purposefully increases the tension around the conflict [the Armenia-Azerbaijan Nagorno-Karabakh conflict], the occupation policy of the neighbouring country poses a big threat to the energy and transport megaprojects in the region.”
While speaking about the negative impact of the COVID-19 pandemic, Jabbarov informed about the measures taken to eliminate the impact, stressed that a favorable business environment has been created in Azerbaijan and innovative reforms aimed at developing the private sector are being carried out.
It was noted that the work on the establishment of a branch of the Center for the Fourth Industrial Revolution of the World Economic Forum in Azerbaijan, designed to play the role of an important platform for the global multilateral cooperation, has been launched.
The economy minister spoke about Azerbaijan’s post-pandemic trends, stressed that the digital economy, ICT, agribusiness, construction, mining, petrochemical and tourism are the priority sectors.
Jabbarov also emphasized the possibilities of expanding the cooperation in these spheres.
AIIB President Jin Liqun informed about the bank's activity, the measures taken to stimulate the economic growth and infrastructure development in the Asian region.
The AIIB report for 2019 was presented at the event.
