PASHA Bank, a leading corporate bank in Azerbaijan, attended the Annual Conference of the US-Azerbaijan Chamber of Commerce, held in Washington. This year, more than 250 representatives from 30 various organizations, including diplomatic missions, business associations, large banks, investment associations and other business circles attended the assembly.
During the conference, experts from the both countries discussed the changes in the global economy in the light of reducing prices of power carriers, the impact of these processes on the economies of Azerbaijan and US, and future prospects for development of trade relations between these countries. The agenda of the event also included some issues about the economic reforms and new business opportunities; development of the non-oil sector and attraction of foreign investments, and future development of the public and private sector partnership in Azerbaijan.
As mentioned by Mr. Taleh Kazimov, Chairman of the Board of PASHA Bank, acting as a speaker in the Session on "Banks & Finance", the decrease in the prices of power carriers made the issue of diversification of the economy more topical, for which we were ready since the first day of our operation as a bank.
PASHA Bank's Chairman finished his speech with these words: ‘Surely, the crisis arising from shocks in the global energetics market create visible economic challenges for the countries, however, it also open new opportunities for development, considering that the structural reforms for development of the non-oil sector, particularly the key spheres of agriculture, transportation and logistics, ICT and tourism in Azerbaijan are conducted in full force. The roadmaps drafted for the mentioned sectors create great opportunities for the development of export oriented manufacturing and attraction of foreign investments, including investments from US. Taking the abovementioned into consideration, the business in Azerbaijan and the bank sector supporting it are open for a constructive dialog with its American partners, sharing of experience and information, and building new mutual advantageous business relations.'
The two-day conference of the US-Azerbaijan Chamber of Commerce will end today, on March 2, 2017.