The Central Bank of Azerbaijan (CBA) welcomed a delegation from the Black Sea Trade and Development Bank (BSTDB) headed by President Ihsan Delikanli on Tuesday.
CBA President Elmar Rustamov discussed with BSTDB representatives the current status of the economic ties between the the two banks, and they also discussed the country's strategy going into 2015.
Rustamov talked about the country's stability in its macroeconomic climate, detailing its development efforts and its economic growth. This included nurturing expansion in the non-oil producing sectors of the country and diversification efforts undertaken by the government.
He also discussed the economic improvements that the country has seen in the past decade as Azerbaijan has become an upper-middle income country.
Delikanli praised the economic growth that the country has been able to achieve in both the short and medium terms. Regardless, the country does face economic challenges and he discussed ways that cooperation between Azerbaijan and the bank could help both parties. He also indicated that the bank is willing to undertake further cooperative projects.