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Nazrin Abdul

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On October 30, the Embassy of Azerbaijan in the United Kingdom hosted an event titled “Azerbaijan’s Sovereign Credit Rating and Economic Outlook: Unlocking the Regional Potential of the Caucasus and Central Asia.”

Azernews reports, according to the Embassy, the event brought together Azerbaijani and foreign professionals working in leading UK companies, representatives from the City of London Corporation, government institutions, and economic experts.

The session was moderated by Cemal Ismayilov, Partner and Head of Azerbaijan at Oliver Wyman, who noted that Azerbaijan had achieved a major milestone this year with its sovereign credit rating upgraded by international rating agency Moody’s from Ba1 to Baa3 — investment grade.

He emphasized that this decision reflects the government’s consistent and goal-oriented economic strategy over the past decade, which has strengthened the country’s fiscal resilience and long-term competitiveness. Ismayilov added that the positive assessments by Moody’s and other rating agencies demonstrate strong confidence in Azerbaijan’s ongoing economic reforms.

“This achievement should further inspire Azerbaijan to deepen institutional reforms, expand the private sector, and strengthen economic partnerships worldwide — including with the United Kingdom,” he said.

During the panel discussion, Moody’s Vice President Daniela Re Fraschini and Oppenheimer & Co. Senior Analyst Gabin Levy shared insights into Azerbaijan’s sovereign credit rating and economic stability. They highlighted key factors behind Moody’s decision, including fiscal discipline, sound macroeconomic indicators, efforts to reduce oil dependence, diversification initiatives, investor confidence, institutional reforms, and the country’s strategic role as a transport and logistics hub in the South Caucasus and Central Asia.

Experts also noted that the post–August 8 Washington summit normalization process between Azerbaijan and Armenia has had a significantly positive impact on Azerbaijan’s investment outlook.

Addressing the event, Azerbaijan’s Ambassador to the UK, Elin Suleymanov, said the country’s achievements were the result of President Ilham Aliyev’s visionary political, economic, and social reforms. He underlined that the initial peace agreement and normalization process between Azerbaijan and Armenia open new opportunities not only for the two countries but also for the broader South Caucasus and Central Asia regions.

“Peace and cooperation will enhance the efficiency of regional trade and transport corridors, expand energy and logistics projects, and create a favorable environment for economic cooperation and investment,” the Ambassador stated.

At the conclusion of the event, the establishment of the Azerbaijan–UK Business Council was officially announced. The Council aims to strengthen trade and economic ties between the two countries, support business-to-business connections, promote bilateral trade and knowledge exchange, represent the interests of the business community, and foster cultural cooperation.