Minister lauds Azerbaijan's successful cooperation with Islamic Development Bank [PHOTO]

27 November 2020 13:21 (UTC+04:00)

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By Ayya Lmahamad

Economy Minister Mikayil Jabbarov has hailed Azerbaijan's successful cooperation with the Islamic Development Bank.

He made the remarks at the 36th session of the Standing Committee for Economic and Commercial Cooperation of the Organization of the Islamic Cooperation (COMCEC) that was held under Turkish President Recep Tayyip Erdogan's chairmanship in the format of a video conference.

"Azerbaijan is successfully cooperating with the Islamic Development Bank and the bank has allocated up to $1 billion for various spheres within the country up to now," Jabbarov said.

Moreover, noting the special importance of OIC for Azerbaijan from the political standpoint, the minister stated that the organization is the first international body which Azerbaijan joined after restoring its independence.

Furthermore, reporting on Azerbaijan’s bilateral trade and economic cooperation with the OIC member states, Jabbarov emphasized that the share of COMCEC countries in Azerbaijan’s foreign trade amounted to 22 percent for the first ten months of the year. In addition, he underlined the importance of expanding partnership projects among the OIC structures for further expansion of trade relations.

The minister also underlined the important role of OIC in improving welfare and solving the problems in the Islamic world, noting that the member states cooperate through various platforms of the organization and implement joint projects. Moreover, it was noted that Azerbaijan participates in the COMCEC special programme on the COVID-19 pandemic.

Moreover, during the session, Jabbarov briefed participants about the military provocation of the Armenian armed forces against Azerbaijan that started on September 27. He emphasized that the Azerbaijani armed forces under President Ilham Aliyev's leadership liberated the Azerbaijani lands from occupation.

“OIC and subordinate structures adopted numerous resolutions, made statements in support of Azerbaijan’s fair position, which was highly appreciated by the Azerbaijani people,” the minister added.

He stressed that the tremendous support by Turkey and its people throughout the conflict inspired Azerbaijan and its nation during the 44-day war and expressed his gratitude on behalf of the Azerbaijani government.

In the meantime, the minister also thanked all other countries that supported Azerbaijan on its glorious and righteous path.

Additionally, wishing success to the 36th COMCEC session, which is a bright example of cooperation in the Islamic world, the minister stressed that the implementation of new infrastructure and construction projects in the liberated Nagorno-Karabakh region is one of the main tasks facing Azerbaijan.

It should be noted that the session was attended by delegations of the OIC member states, representatives of specialized OIC institutions and various international organizations.

OIC Secretary-General Yousef Bin Ahmad Al-Othaimeen, officials from Bangladesh, Kuwait, Nigeria on Asian, Arab and African regional groups stressed the importance of expanding ties of brotherhood and solidarity among the OIC member states and exchanged views on ways of strengthening economic and trade cooperation.

OIC is the second largest organization after the United Nations with a membership of 57 states spread over four continents. The organization is the collective voice of the Muslim world and was established in September 1969. Azerbaijan joined the organization on 1992.

The Standing Committee for Economic and Commercial Cooperation of the Organization of the Islamic Cooperation (COMCEC) is the main multilateral economic and commercial cooperation platform of the Islamic world. COMCEC, which was established in 1981, serves as a central forum to address the common development problems of the Islamic Ummah and provide solutions to them.

Additionally, Azerbaijan joined the Islamic Development Bank on 4 July 1992.

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad