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AZPROMO meets with Islamic Development Bank Group

The parties discussed the prospective partnerships within the TCCA+ program and EXIM financing tools.

The Export and Investment Promotion Agency - AZPROMO held a meeting in Baku with visiting representatives of the International Islamic Trade Finance Corporation (ITFC) and Islamic Corporation for Development of Private Sector (ICD), both of which are members of the Islamic Development Bank (IDB) group.

During the meeting, Head of AZPROMO, Yusif Abdullayev, provided information on the Agency's activities, export and investment promotion mechanisms. He discussed key initiatives such as the anticipated approval of the National Export Strategy, efforts to diversify export destinations, subsidies for logistics, and the introduction of various upcoming promotional mechanisms. It was emphasized that AZPROMO holds membership in the World Association of Investment Agencies (WAIPA) and holds the status of Regional Director for Central Asia.

The Director General of ITFC and the Acting Director General of ICD, Hani Salem Sonbol, underscored their keen interest in collaborating with AZPROMO through a public-private partnership framework. He also informed about trade promotion programs that ITFC has developed for various countries and regions. It was highlighted that AZPROMO could play a pivotal role in the successful execution of these programs by offering potential support in future coordination efforts. This support aims to establish a Trade Promotion Organization (TPO) network for Azerbaijan and the Central Asian region as part of the flagship program (TCCA+) implemented by ITFC. The program's goal is to enhance trade among the countries within the Organization of Islamic Cooperation in the Central Asian region.