By Trend

A meeting has been held at the Central Bank of Azerbaijan (CBA) with a delegation headed by Director General of the French Business Confederation (MEDEF International) Philippe Gautier, Trend reports via the CBA.

"The purpose of the delegation's visit is to develop direct ties between French companies and their Azerbaijani partners and to identify new areas of cooperation with France," the CBA said.

During the meeting, the CBA representatives noted that the President of Azerbaijan Ilham Aliyev has launched a new reform aimed at the implementation of specific strategic goals, the continued sustainable growth of a competitive economy, the creation of competitive human capital and modern innovation space, and determining national development priorities for the upcoming strategic period.

The bank’s representatives also stressed that cooperation with international organizations plays an important role in the successful implementation of reforms in Azerbaijan.

Besides, they noted that, despite the negative impact of the COVID-19 pandemic on the economy of Azerbaijan, macroeconomic stability is maintained in the country, and the stability of the financial and banking sector has been ensured.

The MEDEF International delegates pointed out that the favorable investment climate in Azerbaijan also opens up opportunities for French business entities, and at the post-pandemic stage, an important issue is to get acquainted with the priorities of diversifying the country's non-oil sector, in particular, the reconstruction of territories liberated from Armenian occupation [in the 2020 second Karabakh war].

The parties also discussed the main directions of monetary policy, measures to combat inflationary processes and issues of participation in banking and insurance activities.