Mikayil Jabbarov: Armenia poses serious obstacles to economic cooperation

The 29th annual meeting of the Board of Governors of the European Bank for Reconstruction and Development (EBRD) took place in a video conference with delegations of member countries and international organizations, Report informs, citing Ministry of Economy.

Representatives of the EBRD member countries made speeches at the plenary session.

Mikayil Jabbarov, Director of the EBRD from Azerbaijan, Minister of Economy, stressed that Azerbaijan attaches great importance to the development of relations with the Bank, and the EBRD has always been a reliable and vital partner for our country. In November 2019, Azerbaijan further strengthened its partnership by joining the donor countries' community.

The Minister of Economy informed about the large-scale socio-economic support measures implemented to reduce the impact of the coronavirus pandemic on Azerbaijan. and so on. He noted that the development of these areas had been identified as a critical priority.

Azerbaijan has sufficient resources to adequately meet the new challenges and appreciate the support measures proposed by international financial institutions, including the EBRD. In this regard, the Bank's "Solidarity Package" deserves special mention.

The plenary session highlighted the opportunities for cooperation between Azerbaijan and the EBRD in developing the private sector, mostly small and medium-sized businesses, privatization, increasing the competitiveness and transparency of public enterprises, expanding public-private partnerships, and improving the digital economy.

Jabbarov stressed that despite Azerbaijan's regional development initiatives, Armenia's policy of aggression against our country creates serious obstacles to expanding economic cooperation in the region and the full realization of economic potential. Armenia has launched another provocation against Azerbaijan since September 27 this year. The main target of the occupying country is the civilian population and facilities. The counter-offensive operation implemented within the international humanitarian law framework is carried out on Azerbaijan territory to ensure the citizens' security. It was reiterated that the occupation of Nagorno-Karabakh and surrounding regions by the Armenian armed forces is a real threat to regional peace and security.

The world community must demonstrate a principled position based on international law and norms, strongly condemn Armenia's incitements against Azerbaijan, and force the aggressor country to comply with its obligations under humanitarian and international law.

The sides exchanged views on the EBRD's strategic directions, approved the Strategic and Capital Framework for 2021-2025, and determined the institutional composition of the Bank's Board of Directors for the next year.

The Azerbaijani delegation also took part in other events held within the 29th annual meeting of the EBRD Board of Governors.