Azernews.Az

Qabil Ashirov

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The growing presence of Azerbaijani companies on the London Stock Exchange represents a significant achievement in the development of bilateral economic cooperation, Azernews reports, citing a member of the British House of Lords, Aamer Sarfraz, who said during the First Azerbaijan–UK Political Dialogue held at ADA University.

Sarfraz highlighted the potential for creating an Azerbaijan-UK “fintech sandbox,” which would serve as a secure platform for fintech companies from both countries to test new products and technologies. He compared this initiative to similar models already applied between Azerbaijan and other countries.

“A fintech sandbox between Azerbaijan and the United Kingdom would be highly appropriate. Similar to the models we have implemented with other nations, this platform would allow fintech companies in both countries to safely trial new technologies and services,” he said.

Sarfraz also emphasized Azerbaijan’s unique position in terms of sovereign wealth funds.

“There is something in your country that we do not have, a sovereign fund. The United Kingdom does not possess such funds. Even if British government representatives wanted to encourage companies to invest in Azerbaijan, they could only promote and support such initiatives; they cannot mandate them. Nevertheless, the UK remains a global hub for sovereign wealth funds: the first such fund was established here, and every major international fund maintains a representative office in the country,” he noted.

The dialogue underscored the importance of strengthening economic partnerships, leveraging financial innovation, and enhancing institutional frameworks to support mutual investment and technological exchange between Azerbaijan and the United Kingdom.