Minister of Finance of the Republic of Azerbaijan Samir Sharifov made a business visit to the Islamic Republic of Pakistan, the United Arab Emirates (UAE) and India on February 19-21***As of January 1st, 2018, the external public debt of the Republic of Azerbaijan constituted 9,398.3 million US dollars (equivalent 15,978.1 million manat). The Debt to the Gross Domestic Product ratio stands at 22.8 percent (based on 2017 GDP of AZN 70,135.1 mln)******

Minister of Finance Samir Sharifov holds several meetings on the sidelines of ADB Annual Meeting

Minister of Finance Samir Sharifov holds several meetings on the sidelines of ADB Annual Meeting

04.05.2018

The 51st Annual Meeting of the Board of Governors of the Asian Development Bank (ADB) has kicked off in the Philippine capital Manila. Minister of Finance of the Republic of Azerbaijan Samir Sharifov is attending the meeting. The minister addressed the Central Asia Regional Economic Cooperation (CAREC) High-Level Session that discussed new opportunities for regional cooperation and the potential for CAREC-Belt and Road Initiative (BRI) collaboration. Azerbaijan is a member of CAREC program. A significant development strategy launched by the Chinese government, BRI seeks to promote economic cooperation among countries along the ancient Silk Road. Minister Samir Sharifov affirmed Azerbaijan`s commitment to both programs aimed at developing regional cooperation and expanding transit corridors, and highlighted the country`s contribution to projects supporting these initiatives.

Minister Samir Sharifov held a number of bilateral meetings on the sidelines of the Annual Meeting. The minister met with president of the Asian Development Bank Takehiko Nakao to discuss the current state and prospects of cooperation between the country and the bank. Minister Samir Sharifov highlighted the economic reforms carried out by the Azerbaijani government under the leadership of President Ilham Aliyev in recent years. He thanked the Asian Development Bank for contribution to this development, in particular for its support as the first international financial institution providing funding for the Southern Gas Corridor project.

Takehiko Nakao asked Samir Sharifov to extend his greetings and congratulations to President of the Republic of Azerbaijan Mr Ilham Aliyev on being re-elected by gaining huge support of the people. The ADB president hailed rapid development of cooperation between the bank and the country. Takehiko Nakao said the ADB would continue contributing to ensuring sustainable economic development in Azerbaijan as a reliable partner.

Minister Samir Sharifov then met with ADB Vice-President Wencai Zhang and they discussed the course of implementation of the projects financed by the bank, and future cooperation priorities in accordance with Azerbaijan`s development strategy.

During his meeting with Australian Minister for International Development and the Pacific Senator Concetta Fierravanti-Wells, minister Samir Sharifov stressed the fact that Azerbaijan was represented in the Australia Voting Group in the ADB Board of Governors. They exchanged views over what should to be done in order to expand cooperation between Australia and Azerbaijan.

On the sidelines of the Annual Meeting, the minister of finance also held a meeting with the management of the French Development Agency to discuss the course of implementation of the agency-funded railway projects in Azerbaijan, and future cooperation prospects. The French Development Agency expressed interest in and readiness to contribute to new projects.

 

Press service of the Ministry of Finance